INDIAN PHARMACEUTICAL FAIR IN LIMA (22-23 AUGUST 2016) CENTRO NAVAL, LIMA, PERU
The Pharmaceutical Export Promotion Council of India (PHARMEXCIL) with the support of Embassy of India in Lima, Peru and the Indian Chamber of Commerce in Peru (INCHAM) organized the 4th edition of the Buyer-Seller Meet (BSM) cum Seminar IPHEX-LATAM 2016 on 22-23 August 2016 at Centro Naval. Mr. Edgar Vasquez Vela, Vice Minister of Foreign Trade of Peru was the Chief Guest and addressed the Seminar. Mr. Vásquez spoke about the willingness of the current government of Peru to increase business ties with India to benefit both the countries. He along with Ambassador Sandeep Chakravorty, inaugurated the Exhibition. Vice Minister Vasquez visited all the stands and interacted with the Indian exhibitors.
As is well known, due to its strong manufacturing and R&D abilities, the self-reliant Indian Pharmaceutical Industry has emerged as the “Global Pharmacy”. Indian Pharmaceutical market was the sixth largest market globally in terms of size in 2014 and is projected to grow to USD 55 billion by 2020, making it the top three markets in terms of incremental growth. India´s Pharmaceutical exports for the financial year 2015-16 stood at USD 16889 million with a growth of 9.4 per cent. India exports its pharmaceutical products to almost all major destinations with North America accounting for more than 1/3rd of the total exports followed by Africa (21%) and European Union (16 %). Other major destination for Indian pharmaceutical products include ASEAN, Middle East, Latin American Countries, South Asia and Oceania. India has been bagging around 30% of the total ANDAS granted by USFDA. It has 2911 active Type-II Dmfs filed with USFDA. It also has the certifications from all major regulatory agencies viz. EDQM, UK MHRA, Irish Medicines Board, Sweden MPA [European Union], WHO GMP, DACA (Ethiopia) and TFDA (Tanzania). Globally more than 90 per cent of WHO pre-qualified API [Anti-retroviral (ARVs), Anti-tubercular & Anti-malarial] are sourced from India.
The main objective of organizing IPHEX-LATAM in Lima this year was match making of Indian companies with the Peruvian companies interested in strengthening their competitiveness and to forge strategic alliances. Indian companies would also scout for investment opportunities in Peru. India recognizes Peru´s potential to be the hub of pharmaceutical industry for Latin America.
The following eighteen companies participated in IPHEX-LATAM:
- AXA PARENTERALS LTD
- BRILLIANT BIO PHARMA PVT LTD
- CELOGEN PHARMA PVT LTD
- EVEREST ORGANICS LIMITED
- FOURRTS INDIA LABORATORIES PVT LTD
- GALENTIC PHARMA INDIA PVT LTD
- HEXAGON NUTRITION
- ICPA HEALTH PRODUCTS LTD
- KWALITY PHARMACEUTICALS PVT LTD
- PANVO ORGANICS PVT LTD
- PHARMACHINE INDIA
- PROCARE PHARMA PVT LTD
- SERUM INSTITUTE OF INDIA PVT LTD
- SHREEJI PHARMA INTERNATIONAL
- SWISS PARENTERALS PVT LTD
- THERMOLAB GROUP
- VASU HEALTHCARE PVT LTD
- VEE EXCEL DRUGS & PHARMACEUTICALS (P) LTD.
Indian companies exhibited their pharmaceutical products such as medicines, drugs, pharmaceutical intermediates, formulations as well as advanced machinery. While some are already doing business in Peru, for many others it was a first time in this market. The market size of Peru´s pharmaceutical industry is worth approx US$ 2 billion which includes US$ 840-900 million accounted for by imports. India´s share of the imports is around USD 40 million which is around 5% of the total imports. Peru-India relationship in the pharmaceutical sector thus has huge potential and can really develop into a win-win proposition for both countries. As one of the aims of the new Government of Peru is to provide universal medical heathcare to all Peruvians, Indian pharmaceutical sector, which has emerged as the ´Global Pharmacy´ of the world can play a big role in achievement of the goal due to its low cost and high standards. Against this backdrop India can be a natural partner of Peru in addressing the latter´s heathcare needs. Peru can take advantage of India´s R&D and technological advances by greater partnership between the pharmaceutical companies of the two countries. India also sees Peru as a hub for its activities in Latin America for the sector due to its market friendly environment and availability of skilled manpower.
As in past years, the exhibition was successful in creating great deal of awareness in Peru about the capabilities of Indian pharmaceutical sector but also in generating business leads and alliances. The event started with a well-attended seminar on the pharmaceutical sector. Notable speakers in the seminar included Mr. Luis Maura, General Manager, RLC; Mr. Miguel Gallo Seminario of Sociedad Nacional de Pesqueria; Mr. Fernando Masumura of Peru Compras, Dr. Amanda Martinez Rojo, General Manager of COMSALUD, LCC; Ambassador of India to Peru & Bolivia Mr. Sandeep Charkravorty and Mr. Edgar Vásquez Vela, Vice Minister of Foreign Trade of Peru.
Dr. Abhay Sinha, Regional Director of Pharmexcil, who was accompanying the delegation, expressed his happiness for the quality of this year´s edition of the event and services provided by INCHAM to this end. The local media (print, radio & electronic) covered the event widely. All Indian companies expressed their satisfaction with the quality of the Business-to-Business meetings and the event is expected for forge stronger relationship between the Indian and Peruvian Pharmaceutical companies.
Lima, August 25, 2016