Why CPhI China In June 2017 Is A Big Opportunity For Indian Pharmaceutical Companies
The pharmaceutical companies of India
and China have been experiencing such very fast expansion in the past few years that they are widely
recognized as two of the world’s most active and promising markets of Pharmaceutical API and
Intermediate manufacturing and sourcing options. subsequently, they
have attracted many drug companies around the world. The strengths and weaknesses
of each country and their advantages and disadvantages to certain
sourcing/outsourcing projects have become the key make a distinction.
1. This
year CPhI
China represents a great opportunity to do business for Indian Pharma companies
also. This platform offers Indian companies a invaluable opportunity to become
an industry expert and also to learn from their Chinese counterparts. The exhibition
includes on-site conferences, seminars, forums, discovery and innovation tours,
summits and showcases to look for and networking and creating new global customers
for Indian Pharma companies and also a new sourcing opportunities to learn the strengths and positivity of
the Chinese Pharma API sourcing and manufacturing companies.
2.
"CPhI China is the most comprehensive pure pharma focused event for
domestic and international pharmaceutical companies in Asia. (Taken from CPhI
website)
"Over 35,000 pharma professionals from
more than 120 countries around the world gather for a host of events that cover
all aspects of the pharmaceutical supply chain. CPhI China gives you with the
opportunities to meet, network, do business, share ideas and shape the future
of the Indian pharmaceutical industry".
Lesson to be learned from China counterparts of Pharma Industry:
1. China has a better general industrial infrastructure than India because the
Chinese government has put enormous efforts and investments in this during the
past two decades. The logistic service
in China also is better developed and less expensive than in India. These advantages
have made China attractive to foreign companies looking for a country where
doing business is relatively easy. Thus a framework of the Industrial structure
need to be improved by Indian Government.
2. China has a better education system in biology, molecular
biology, and other life science–related fields, resulting in, generally speaking,
a better biotech industry in China than in India. However, India has paid
attention to promoting its pharmaceutical industry a lot earlier than China but
need more emphasis on the same to get qualified professionals for industry.
3. The current labour and raw
material costs in the Indian pharmaceutical industry are generally about 25% to
30% higher than in China. Indian to
pharma companies should pay attention towards long-term, large-scale
manufacturing projects to source bulk materials or outsource.
4. India’s current strengths include its stronger
capability in process development, drug formulation, dosage form manufacturing,
and marketing in well regulated markets. India should strengthens for its
better industrial support system, large-scale manufacturing capabilities of raw
materials, and relatively low labour and material costs.
5. At present, the Indian companies
are the better choice for formulation development, manufacturing, and marketing
of dosage form drugs. and India should
concentrate more on contract manufacturing (and sourcing) of advanced pharma
intermediates and APIs..
Thus it is to conclude that in my opinion
Indian Manufacturing and sourcing companies
of Active Pharmaceutical Ingredients and Intermediates should participate in
CPhI China in June 2017 for getting more opportunities and learning experiences
from Chinese counter parts.
Created by: Vinita Bhandari http://getdigitalpartner.com/
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