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CM promises all help to investors in Pharma sector

Fri 24th Sep 2010 08:16 AM
CM promises all help to investors in Pharma sector
CM promises all help to investors in Pharma sector

Reiterating that the state government is adopting an investor-friendly industrial policy, Chief Minister K Rosaiah on Friday stated the government has promoted five Pharma Special Economic Zones (SEZs) and four Biotech SEZs being developed by Andhra Pradesh Industrial Infrastructure Corporation and local pharma industries.

Talking to media persons after inaugurating the Global Pharma CEO’s conclave on the occasion of 6th Annual Day of Pharmaceutical Export Promotion Council at Hyderabad International Convention Centre, Madhapur in the City, the Chief Minister said the government has promoted Jawaharlal Nehru Pharma City, a first of its kind in the country, in an area of 2,200 acres in Visakhapatnam with required infrastructure facilities.

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He said the government would also launch Medtech Valley at Jawaharnagar near Genome Valley, the Biotech hub of India.

Mr Rosaiah exhorted the Pharmaceutical companies to have a tie-up with the colleges in order to encourage the students. He also presented awards to some pharma companies which excelled in various sectors.

Earlier, addressing the gather after the inauguration, Mr Rosaiah point out that India’s pharmaceutical industry was the third largest in the world in terms of volume with a total turnover about US$ 21.04 billion, with a domestic market of US$ 12.26 billion which is estimated to touch US$ 20 billion by 2015, making India a lucrative destination for clinical trials for global giants, the Chief Minister said that India tops the world in exporting generic medicines worth US$ 11 billion with a growth rate of 17 per cent. India accounts for 20 per cent of the global generics market.  India is a globally acknowledged source of high quality affordable generic medicine with rich vendor base, he added.

The Chief Minister that he was also happy that India is poised to become manufacturing hub for pharmaceutical industry of the world and an emerging hub for contract research, bio-technology, clinical trials and clinical data management. After establishment of PHARMEXCIL, the exports of the country have grown from $3.8 billion to $8.9 billion.

Mr Rosaiah said that the State ranked first in the manufacturing of bulk drugs and third in manufacturing of formulations in the country. The State was contributing 40 per cent of the total Indian bulk drug production and 50 per cent of the India bulk drug exports. The sector was creating employment to over a lakh of persons in the State.

There are over 440 pharmaceutical exporters in the State, including the major global players like NEKTAR, DuPont and EISAI.

The Chief Minister said that his government has supported for the presence of PHARMEXCIL in Hyderabad, including seed capital assistance to promote pharma exports in the State. Pharma industry of the State received global recognition in meeting the challenge of H1N1 pandemic.

He said that the government has identified the Pharma sector as one of the potential sectors of the State. In order to regulate the zoning of Pharma industry, the State government has promoted Jawaharalal Nehru Pharma City in 2,200 acres at Visakhapatnam with required infrastructure facilities. Similarly, the State government has promoted five Pharma SEZs and four Biotech SEZs developed by APIIC and local Pharma industrialists. A cluster for manufacturing of Medical Devices & Equipments called “Medtech valley” has also been launched at Jawaharnagar near Genome Valley, the Biotech Hub of India.

Mr Rosaiah said that in order to meet the human resources challenges, the State has promoted 255 Pharma colleges with an annual intake of 15,240 students and also National Institute of Pharmaceutical Education and Research (NIPER) in association with the Centre to offer post graduate courses & research programs in various Pharma disciplines. He has appealed to the pharma industry to work closely with the pharma colleges to share the inputs on the industry requirement and ensure the students acquire the right kind of skills to absorb themselves in the pharma sector.

The Chief Minister said that the government has launched most investor friendly industrial policy by offering lowest power tariffs. The State was offering Rs 0.75 paisa per unit reimbursement for five years. The policy covers, Investment subsidy, reimbursement of VAT, Single Window clearance system and special incentives for mega projects. The state has witnessed huge investments in recent past through Capital Expenditure (CAPEX) expansions, new projects, and also in the new Pharma SEZs, he added.

Dept of Commerce Joint Secretary Rajeev Kher, Pharmaceutical Export Promotion Council Chairman Smitesh Shaw, NPPA Chairman Jharwal, Lonza AG CEO Stefan Borgas, PHARMEXCIL ED Appaji, Industries Principal Secretary BP Acharya, Drug Controller RP Meena were also present.