Pharmexcil has signed a memorandum of understanding (MoU) with the Philippines International Trading Corporation for extending support in sourcing quality drugs to Philippines. The 12-member delegation of Pharmexcil that visited Philippines, Malaysia, Singapore and Vietnam has returned to India last week. The members of the delegation represented companies dealing with formulations and bulk drugs.

The chamber of commerce cell in Philippines invited key manufacturers and importers for the interactive meeting. Over 150 members took part in these meetings, who expressed desire to develop strong trade relations with Indian pharma companies.

Dr PV Appaji, executive director of the Council told Pharmabiz that Philippines government is keen to procure quality drugs from Indian companies at competitive prices. The delegation also met the Philippines Drug Registration Authority (Bureau of Food & Drug Administration). Several delegates have identified business partners in the country.

India's exports to Philippines are over Rs 130 crore with an annual growth rate of 11 per cent. There is an abundant scope for biological products and vaccines in the Philippines market, Dr Appaji said.

The delegation took part in the buyer-seller meet in Malaysia with Malaysia-India Chamber of Commerce. They also interacted with the officials of Malaysia Industrial Development Authority, who explained the incentive offered by the Malaysian Government to investors. Pharma and Biotech companies based in Malaysia had an interaction with Indian counterparts. Malaysian Government invited Indian pharma companies to set up new facilities in the country and strengthen the existing trade relations.

He informed, at present, Indian pharma exports to Malaysia account to Rs 125 crore growing at an annual rate of 3.5 per cent. Several importers have shown interest in importing drugs from Indian pharma companies whereas others wanted to enter into collaborations in the area of consultancy services.

The Pharmexcil lead delegation also took part in a buyer-seller meet in Vietnam with leading importers and distributors, organized by Vietnam Chamber of Commerce and Industry. Indian pharma exports to Vietnam account to about Rs 250 crore.

Pharmexcil has noted good business opportunities for Indian companies in the country. The pharma market in Vietnam is mainly concentrated in Hanoi and Hochimin cities. There is a small presence of local industry with some Government owned units. The country is fast growing with stable economy.

He added, several enquiries were received particularly in the areas of bulk drugs, surgical items, formulations, veterinary medicines.

The delegation visited Singapore. The present exports from Indian pharma companies value Rs 220 crore. The local industry is small at present and is dominated by MNCs. There is a strong well organized drug control organization with rigid product registration requirements. The drug control authorities of Singapore who visited India recently have realized the potential of Indian pharma industry.

The Singapore drug authorities however cautioned that products are cleared for local markets only after thorough scrutiny. The authorities also indicated that Singapore government is likely to increase the product registration charges to nominal levels at par with other countries, he informed.

Currently, Indian pharma companies exports nearly Rs 220 crore worth products to Singapore. The local industry is small and is dominated by MNCs. The drug control organization is well organised with rigid product registration requirements. The drug control authorities of Singapore had visited India recently.

Over 100 members from Singapore took part in the buyer-seller meet held in Singapore. The scope for association in pharma research and development, clinical research and outsourcing their products from Indian companies having US FDA approvals were highlighted by Pharmexcil to the members.