Post Event

Changing pharmaceutical challenges into opportunities

FICCI organised an international conference on 'Pharmaceuticals—Market Prognosis-2012' from February 7 to 8, 2008 at hotel Hyatt Regency, Mumbai. This conference was supported by Bulk Drug Manufacturers Association (BDMA), Indian Drug Manufacturers' Association (IDMA), Indian Pharmaceutical Association (IPA) and Organisation of Pharmaceutical Producers of India (OPPI). Montek Singh Ahluwalia, Deputy Chairman, Planning Commission inaugurated the conference. V S Sampath, Secretary, Department of Chemicals and Petrochemicals, Government of India, said, "Healthcare would be one of the high priority areas for the government and the major objective would be to raise the public spending on healthcare from the current one percent of the GDP to two to three percent of GDP in the next five years." He also opined that due importance should be given to new drug development and discovery along with the effort to capture the world generic market, so that the industry can sustain in the long run.

The two-day conference discussed various aspects of market. D G Shah, Co-Chairman, National Pharmaceuticals Committee, FICCI and Secretary General, Indian Pharmaceuticals Alliance, expressed confidence in taking on the many and more complex challenges expected to be faced by the industry from now till 2012 through resilience and innovation in facing the markets.

Habil Khorakiwala, President, FICCI and Chairman, Wockhardt, expressed great satisfaction at the ongoing efforts in the areas of drug discovery and expanding generics market. He called for sustained efforts to give a boost to R&D in drugs and pharmaceutical in the country. There was also discussion on the growing menace of spurious drugs and how special measures have to be taken to deal with it. Other topic that asked for attention was the need to focus more on branded generics. To sum up, the event was a good interactive session that pondered over the topics effecting and reflecting the pharmaceutical industry.