Visiting Indian pharmaceutical firms seek local partners

Seventeen Indian pharmaceutical enterprises on Oct. 14 met with HCM
City partners during a trade-exchange programme to seek more
opportunities in the field.

The companies produce a wide range of pharmaceutical goods, including health food and veterinary medicine.

Pharmaceuticals are one of the major products that India exports to Vietnam .

Two-way trade between the two countries was more than 2 billion USD in 2009, with an annual growth of 20 percent.

From 2008-10, the Vietnamese pharmaceutical industry increased turnover by 12 percent annually.

Last year, the industry sold around 700 million USD of drugs on the
local market. The rest, which amounted to 50 percent of sales, was
imported medicine.

Vietnam also exported 40 million USD worth of drugs last year, an increase of 20 percent compared to 2008.

However, the local pharmaceutical industry is expected to continue to
produce only basic medicines, and will not manufacture specialised drugs
for heart or cancer diseases.

Most of the raw materials are imported from China (25 percent) and India (21 percent).

Last year, Vietnam spent 1.17 billion USD on imported medicines.

Demand for medicine per capita increased from 6 USD in 2001 to 16.5 USD in 2008, and is expected to reach to 25 USD in 2015./.

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India urged to invest in drugs companies

Many parents give their children too large or frequent doses of non-prescription medicines for fever, coughs and colds, putting their health at risk

Photo: AFP

Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned pharmaceutical enterprises to pour more investment in the local pharmaceutical industry.

During on Monday's seminar on prospects of the industry, Quang said he had told the Indian Business Chamber in Vietnam (INCHAM) that Indian companies had provided drugs of high quality, safety and efficacy at reasonable prices in Vietnam .

"The Ministry of Health recognises the efforts made by foreign investors in the development of the pharmaceutical sector and will try its best to create a favourable and equitable business environment for INCHAM members who invest in Vietnam ," Quang said.

The ministry is committed to continue increasing transparency and accountability, and will reform administrative procedures to smooth the way forward for enterprises, according to Quang.

The ministry's goal is to develop the pharmaceutical sector on many levels, including investment, integration with the world market, and creation of new policies and laws governing the industry.

According to the ministry, 128 Indian enterprises among 545 foreign similar enterprises have been licensed to work in the pharmaceutical industry, accounting for 23.5 percent, the highest ranking.

The number of valid registrations granted to Indian drugs is 4507, accounting for 37.8 percent, the highest level. Drugs from the Republic of Korea rank second, 19.23 percent.

India is an emerging pharmaceutical market in the Asia-Pacific region with an impressive growth rate of 13 percent per year.

At US$193 million in export turnover to Vietnam , India , the world's third-largest producer of pharmaceuticals, was the largest pharmaceutical exporter to Vietnam in 2009.

Abhay Thakur, consul general of India in HCMC said India 's industry had average annual exports of $8.5 billion.

The $21 billion Indian pharma industry was small in comparison to the global market, he added.

"Vietnam can increasingly look towards India as a source for affordable medicines and to solve concerns about increasing healthcare costs," he said.

 

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India urged to invest in drugs companies

Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned
pharmaceutical enterprises to pour more investment in the local
pharmaceutical industry.

During on Sept. 6's seminar
on prospects of the industry, Quang said he had told the Indian
Business Chamber in Vietnam (INCHAM) that Indian companies had provided
drugs of high quality, safety and efficacy at reasonable prices in
Vietnam .

"The Ministry of Health recognises the
efforts made by foreign investors in the development of the
pharmaceutical sector and will try its best to create a favourable and
equitable business environment for INCHAM members who invest in
Vietnam ," Quang said.

The ministry is committed to
continue increasing transparency and accountability, and will reform
administrative procedures to smooth the way forward for enterprises,
according to Quang.

The ministry's goal is to
develop the pharmaceutical sector on many levels, including investment,
integration with the world market, and creation of new policies and laws
governing the industry.

According to the ministry,
128 Indian enterprises among 545 foreign similar enterprises have been
licensed to work in the pharmaceutical industry, accounting for 23.5
percent, the highest ranking.

The number of valid
registrations granted to Indian drugs is 4507, accounting for 37.8
percent, the highest level. Drugs from the Republic of Korea rank
second, 19.23 percent.

India is an emerging
pharmaceutical market in the Asia-Pacific region with an impressive
growth rate of 13 percent per year.

At 193 million
USD in export turnover to Vietnam , India , the world's third-largest
producer of pharmaceuticals, was the largest pharmaceutical exporter to
Vietnam in 2009.

Abhay Thakur, consul general of
India in HCM City , said India 's industry had average annual
exports of 8.5 billion USD.

The 21 billion USD Indian pharma industry was small in comparison to the global market, he added.

" Vietnam can increasingly look towards India as a source for
affordable medicines and to solve concerns about increasing healthcare
costs," he said./.

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India urged to invest in drugs companies

HCM CITY — Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned pharmaceutical enterprises to pour more investment in the local pharmaceutical industry.

During yesterday's seminar on prospects of the industry, Quang said he had told the Indian Business Chamber in Viet Nam (INCHAM) that Indian companies had provided drugs of high quality, safety and efficacy at reasonable prices in Viet Nam.

"The Ministry of Health recognises the efforts made by foreign investors in the development of the pharmaceutical sector and will try its best to create a favourable and equitable business environment for INCHAM members who invest in Viet Nam," Quang said.

The ministry is committed to continue increasing transparency and accountability, and will reform administrative procedures to smooth the way forward for enterprises, according to Quang.

The ministry's goal is to develop the pharmaceutical sector on many levels, including investment, integration with the world market, and creation of new policies and laws governing the industry.

According to the ministry, 128 Indian enterprises among 545 foreign similar enterprises have been licensed to work in the pharmaceutical industry, accounting for 23.5 per cent, the highest ranking.

The number of valid registrations granted to Indian drugs is 4507, accounting for 37.8 per cent, the highest level. Korean drugs (19.23 per cent) rank second.

India is an emerging pharmaceutical market in the Asia-Pacific region with an impressive growth rate of 13 per cent per year.

At US$193 million in export turnover to Viet Nam, India, the world's third-largest producer of pharmaceuticals, was the largest pharmaceutical exporter to Viet Nam in 2009.

Abhay Thakur, consul general of India in HCM City, said India's industry had average annual exports of $8.5 billion.

The $21 billion Indian pharma industry was small in comparison to the global market, he added.

"Viet Nam can increasingly look towards India as a source for affordable medicines and to solve concerns about increasing healthcare costs," he said. — VNS

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