Indian Pharmaceutical Congress 2005, which concluded yesterday at Hyderabad, showcased India’s capabilities in pharmaceuticals and healthcare. The three-day event attracted scores of representatives across the country and abroad, including 8000 odd delegates.
At the inaugural ceremony on 2nd December Andhra Pradesh Chief Minister, Y S Rajasekhara Reddy announced the need for setting up a University of Pharmaceutical Sciences in Hyderabad with world class standards.
The 57th IPC also had visitors from 17 countries including pharma associations from South East Asia, Africa and Gulf Cooperation Council. The conference and scientific sessions explored joint ventures and partnerships to tap the growing business potential in the country.
The conference also provided a platform for several leading drug manufacturers, importers and representatives of regulatory authorities to interact and evolve strategies for boosting cooperation among countries in these regions, stated the organisers.
Though India’s share in the world pharma export market was less than one per cent, it has emerged as the fourth largest manufacturer of pharma produces in the world after the US, Japan and Europe. Registering an annual growth rate of 30 to 35 per cent, the country’s pharma exports, which stood at Rs. 17,000 crore, last year, were expected to touch Rs. 62,000 crore by 2009-10.Hence with the participation of international delegates in national pharma expositions like the IPC, would help ensure that India’s capabilities are highlighted, informed the organisers.
The conference also deliberated on a plethora of themes concerning the pharmaceutical sector on a national perspective. This included the Pharmacopoeia Commission, challenges and opportunities in herbal drug development, research and development alliances, besides the need for industry and academia tie-ups to give a fillip to the drug development processes.
The event also provided a platform to portray the business opportunities abroad for the Indian industries. For instance, a representative from the Norwegian government stated that Indian companies has lucrative business opportunities in generics in Norway and if India could supply to Germany and Sweden, Norway should be on their export agenda for the future.
The event saw a large number of students from pharmacy colleges across the country and it provided a clear picture of job opportunities available to these youngsters that they could capitalise in the future, stated the organisers.