Big opportunity for the India pharma sector amidst US-China trade war: GV Prasad

Chairman of CII National Committee on Pharmaceuticals and Co-Chairman of Dr Reddy’s Laboratories, GV Prasad stated that one out of every third pill consumed in Europe and the US are produced by the Indian pharma company. He also added that Indian pharma companies also have a high potential to enhance their production and explore new areas within the pharma industry.

Prasad also stated that “Hyderabad has been a key pharma player contributing to global supplies. While it started with active pharma ingredients with IDPL playing a major role in developing the pharma ecosystem, later APIs and generics from Hyderabad and Vizag have grown significantly.”

Amidst US-China trade war and changing focus of China on its pharma sector has given a huge opportunity to India’s pharmaceuticals. Referring to such a proliferating environment for the sector Prasad said, “several markets are not procuring from China and China has also decided to stepped up it’s game by addressing new segments within the pharma sector. And a number of Indian pharma companies are dependent on supplies from China.”

He claimed that the Indian pharmaceutical industry has an immense opportunity to “Expand and initiate work on backward integration projects apart from setting up new facilities.” He also stated that a number of USFDA queries indicates that Indian companies need to scale up at a significant level as to meet the requirement. He also maintained that scaling up due to these factors must meet strict quality controls.

Vibrant Indian pharma industries are catering to national and international markets at a large scale. Experts believe that the sector also has the potential to enhance its production in the biologics and vaccines. To cater to the increased requirements, Prasad asserts that the companies are required to adopt new strategies such as upgrading to new technologies for the development and production of pharmaceutical products.