Rs.20,000 Crores Investments in Pharma City, Hyderabad..Announced @ Pharmalytica 2023 Conference
The domestic pharmaceutical industry supplies medicines to more than 150 countries of the world. Indian companies supply 40 percent of generic drugs sold in America. Representatives of pharmaceutical companies stated at the pharma equipment exhibition ‘Pharmalytica’ that India ranks third in the production of medicines in terms of quantity.
However, he said that for the future growth of the domestic pharma industry, there is a need to focus on the development of new drugs. RK Aggarwal, National President of Bulk Drug Manufacturers Association of India (BDMAI) said that local active pharmaceutical ingredient (API) companies are likely to invest Rs 15,000-20,000 crore if the Pharma City being set up in Hyderabad becomes available. He said that this will bring more foreign direct investment in the API sector. He said that the share of bulk drugs in the Indian pharma industry is 25 percent.
Valuable Growth Required..
Harish Jain, president of Karnataka Drugs and Pharmaceutical Manufacturers, said that although India is at the third place in terms of quantity in the production of medicines, India’s position has to increase in terms of value. It is currently ranked 14th. He said that the pharmaceutical industry needs to work towards reaching at least the fifth position.
Whereas the pharmaceutical, biotechnology and medical devices industry in Telangana is worth 5,000 crores in 2014. Earlier we decided to increase the target to 10,000 crore dollars in ten years. It has already reached 8,000 crore dollars. Telangana Industries Principal Secretary Jayesh Ranjan said that the target has been revised to 25,000 crore dollars.
214 FDA Approved Units in Hyderabad
Hyderabad is the pharma center of India. Hyderabad alone has 214 USFDA approved pharmaceutical manufacturing units. Avinash Kumar Talwar, Vice President, Dr. Reddy’s Laboratories, said that the domestic pharmaceutical market will touch $13,000 crore by 2030.
He said that for the development of new drugs, analysis etc. the latest equipment is required.. The demand for these is increasing. 150 companies and top brands participated in Pharmalytica.
