Pharmexcil to compile CAGR forecast on pharma exports
The Dollar Business Bureau Committed to enhance India’s market share in Europe, Pharmaceuticals Export Promotion Council (Pharmexcil) is planning to begin its work on preparing a document forecasting the country’s likely CAGR (compounded annual growth rate) in the coming four years. This step comes at a time when pharmaceutical sector is being recognised by government amongst the top sectors for export with high potential. In this context, Pharmexcil has been asked by the government to compile a forecast of possible CAGR in the coming four years, keeping 2015-16 as the base year with a growth rate of 4.5 percent of the country’s pharmaceutical exports to the Europe. To speed up activities, the council has already urged all the stakeholders to provide ...
Six pharma and two medical device parks soon
The Dollar Business Bureau Indian pharmaceutical sector can get doubled in the next four years to touch Rs.4 lakh crore on the back of key policy initiatives of the government, Union Chemicals and Fertilizers Minister Ananth Kumar has said. Stating that the sector is growing at the rate of 14% per annum and has to show additional 1-2% growth every year to reach $55 billion target by 2020, the Minister spoke on various initiatives being taken up by the government for overall development of the pharma and other related industry. To boost indigenous manufacturing, he announced that the government will set up six pharma parks and two medical device parks “very soon” at an investment of about Rs.30,000 crore. The Minister ...
Pharma Industry well prepared for NLEM 2015 & DPCO 2016: Expert
The Dollar Business “With NLEM (National List of Essential Medicine) 2015 and DPCO (Drug Price Control Order) 2016, more drugs are likely to come under price control but this will not affect the growth of the pharmaceutical industry. The growth trend will be much better as compared to the past,” said a highly placed source from the Organisation of Pharmaceutical Producers of India (OPPI). “In the past, the Pharmaceutical Industry was not well prepared to take the impact of NLEM 2011 and the subsequent DPCO 2013,” added the source. While NLEM is a list of medicines, prepared by the Ministry of Health and Family Welfare, which are essential in India, the DPCO is an order issued by the government under the essential commodities ...
