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India, China can propel global pharma market to $1.1 trillion
Chinese Premier Wen Jiabao gestures as he arrives at the India-China Business Co-operation Summit,
in New Delhi, on Wednesday. He is accompanied by a 400 strong official and business delegation.
Respective industry associations to sign MoU in Mumbai on January 7
India and China should join hands for bidding of global tenders for pharma export orders and play on each other's strengths, China Chamber of Commerce for Import and Export of Medicines and health Products (CCCMHPIE) Vice President Liu Zhanglin said here on Wednesday.
Addressing a meeting of the Indian and Chinese pharmaceutical business leaders, organised by the Federation of Indian Chambers of Commerce and Industry, Mr. Zhanglin said China's strengths in production of quality active pharmaceutical ingredients and India's capability in volume production of formulations and the ability to prepare documentation for global tendering would be a unbeatable combination.
Mr. Zhanglin said very few Chinese companies were qualified to bid for global tenders. Only two Chinese companies had been granted pre-qualification by the World Health Organisation (WHO) for global tendering compared with 1,000 Indian companies. “Chinese companies are also up against the language barrier and this can be overcome by collaborating with Indian companies,'' he said.
As regards the entry of Indian companies into the Chinese market, Mr. Zhanglin said the market demand in his country was changing and it would be critical for Indian companies to find a suitable distribution partner.
The China Chamber could help locate a good distribution firm if the Indian party provided the names of the finished pharma and health products that they wished to export to China, he said.
A memorandum of understanding (MoU) would be signed between the Indian Drug Manufacturer's Association (IDMA) and the China Pharmaceutical Industry Association (CPIA) in Mumbai on January 7.
IDMA Secretary General Daara Patel said the aim was to provide information, data and guidance to each other's members. This is for registration, importation, distribution, marketing and administration of drugs and medicines besides information on statutory regulations.
“The collaboration between the two will give an edge over the developed countries. Together we can meet the generic drug requirements of the world,'' he said. India and China were expected to propel the global pharma market to $1.1 trillion by 2014. India and China have reported trade worth $3.1 billion in the pharmaceutical sector, including medical devices, in the first ten months of the current fiscal. Trade during last fiscal stood at $2.8 billion.
Chinese Premier Wen Jiabao gestures as he arrives at the India-China Business Co-operation Summit,
in New Delhi, on Wednesday. He is accompanied by a 400 strong official and business delegation.
Respective industry associations to sign MoU in Mumbai on January 7
India and China should join hands for bidding of global tenders for pharma export orders and play on each other's strengths, China Chamber of Commerce for Import and Export of Medicines and health Products (CCCMHPIE) Vice President Liu Zhanglin said here on Wednesday.
Addressing a meeting of the Indian and Chinese pharmaceutical business leaders, organised by the Federation of Indian Chambers of Commerce and Industry, Mr. Zhanglin said China's strengths in production of quality active pharmaceutical ingredients and India's capability in volume production of formulations and the ability to prepare documentation for global tendering would be a unbeatable combination.
Mr. Zhanglin said very few Chinese companies were qualified to bid for global tenders. Only two Chinese companies had been granted pre-qualification by the World Health Organisation (WHO) for global tendering compared with 1,000 Indian companies. “Chinese companies are also up against the language barrier and this can be overcome by collaborating with Indian companies,'' he said.
As regards the entry of Indian companies into the Chinese market, Mr. Zhanglin said the market demand in his country was changing and it would be critical for Indian companies to find a suitable distribution partner.
The China Chamber could help locate a good distribution firm if the Indian party provided the names of the finished pharma and health products that they wished to export to China, he said.
A memorandum of understanding (MoU) would be signed between the Indian Drug Manufacturer's Association (IDMA) and the China Pharmaceutical Industry Association (CPIA) in Mumbai on January 7.
IDMA Secretary General Daara Patel said the aim was to provide information, data and guidance to each other's members. This is for registration, importation, distribution, marketing and administration of drugs and medicines besides information on statutory regulations.
“The collaboration between the two will give an edge over the developed countries. Together we can meet the generic drug requirements of the world,'' he said. India and China were expected to propel the global pharma market to $1.1 trillion by 2014. India and China have reported trade worth $3.1 billion in the pharmaceutical sector, including medical devices, in the first ten months of the current fiscal. Trade during last fiscal stood at $2.8 billion.
