Slowdown-hit pharma trade turns to Japan, African markets

The Indian pharmaceuticals sector is vying for a share in the Japanese pharma market that has a 30% share in $950 billion global market, besides setting up a warehouse facility in Nigeria to penetrate the African market.

Addressing a press conference here on Thursday, director general of  Pharmaceuticals Export Promotion Council of India (Pharmexcil) P V Appaji said that the government has launched a Brand India Pharma project to woo Japan open its pharma industry for Indian generic formulations.

Currently, Indian pharma exports to Japan is worth $500 million. The country exports $13.2 billion worth drugs annually and has set a target of $25 billion by 2016. “The initial target of $25 billion was set for 2014 but due to the global economic meltdown, the target has been pushed further to 2016,” he said.

Besides Japan, Pharmexcil is also targeting China.

Appaji said that this year Pharmexcil is organising iPHEX 2013 from April 24-26. Bhavin Mehta, committee chief of iPHEX, said Pharmexcil is planning a warehouse facility in Lagos in Nigeria. The 3,000-4,000 sq mt warehouse will station generic branded products.