Page 147 - CW E-Magazine (7-5-2024)

Pharmaceuticals Hydrocarbons

EXHIBITION GLOBAL AMBITIONS
6th Arab Pharma Manufacturers’ Expo 2024 to be GAIL plans to expand LNG trading business to global

held in Jordan markets

The Middle East is set to witness the The expo will also include a meti- India’s top gas marketer GAIL aims standing”. The Singapore subsidiary is from various suppliers, about three-
unrivalled force of the pharmaceutical culously curated paid Technical Seminar, to become a global liquefi ed natural gas engaged in sourcing spot LNG. fourths of India’s total long-term buys
sector as it hosts the 6th Arab Pharma in Arabic, on the theme ‘The path ahead (LNG) trader as the expanding market of about 19-mt. The country’s LNG
Manufacturers’ Expo 2024, claimed by for value added medicines’ with partici- fuels new business opportunities. GAIL plans to double its LNG trad- import from the spot market is small –
the organisers to be the region’s largest & pation from over 200 delegates. ing volume by 2030, Mr. Gupta said, just about 10% – but growing.
premier exhibition on comprehensive “We plan to ramp up our LNG trad- without specifying the current size of
pharma manufacturing. In addition to supported by industry ing business. We began with sourcing its business. “We have expertise in gas. Focus on spot market
association, ACDIMA, the event has LNG cargoes for ourselves and have We have been procuring from so many GAIL plans to confi ne itself to the spot
To be held from July 2-3, 2024 in been welcomed by the Jordan Food & expanded to sourcing cargoes for some geographies. We have sold several US market for its global LNG trade for now,
Amman, Jordan, the event boasts of an Drug Administration (JFDA). It also other Indian companies. Now we plan cargoes to multiple customers,” he said. Mr. Gupta said. Many established global
exclusive collaboration with the Arab has the support of other notable asso- to serve non-Indian customers as well, traders also offer long- and medium-term
Union of the Manufacturers of Pharma- ting-edge products, revolutionary tech- ciations across the burgeoning mar- with an aim to become a global LNG GAIL has a long-term contract to contracts to buyers and suppliers.
ceutical and Medical Appliances (AU- nologies, and unparalleled services,” kets, including the Jordan Chamber of trader,” GAIL’s Chairman and Managing purchase LNG from the US and sells
PAM), and endorsement of the Arab and “an anticipated gathering of over Industry, Amman Chamber of Industry, Director, Mr. Sandeep Kumar Gupta, part of those supplies to international The spot market for LNG has hugely
Company for Drug Industries and Medi- 2,000 attendees, including esteemed Syria Scientifi c Council for National was quoted as saying in an Economic customers, instead of bringing it to expanded over the last decade with
cal Appliances (ACDIMA), a pan-Arab industry experts, key decision-makers, Pharmaceutical Industries, the Iraqi Times report. India based on arbitrage opportunities. booming supplies, especially from the
shareholding company established by and a distinguished cadre of healthcare League for Medicine Producers, the But with a focus on trading, GAIL would US and Australia, and diverse custo-
a resolution from the Arab Economic professionals.” Association Tunisienne des Médicaments “The global trade can signifi cantly actively seek out buyers and sellers of mers, mainly from emerging markets.
Unity Council. Génériques, and the Engineering Export boost our topline and provide visibility spot LNG in the global marketplace. The creation of trading infrastructure
A comprehensive array of products Promotion Council (EEPC) under the to our Singapore subsidiary,” said Mr. has also aided growth of the spot mar-
According to the organisers of the will be on display at the show, ranging Ministry of Commerce, Government of Gupta who has set the ambition to GAIL has long-term contracts for ket, which offers fl exibility to buyers
event, Ahmedabad-based GPE Expo from pharma processing and packaging India. turn GAIL into a “company of global the annual purchase of 14-mt of LNG and suppliers.
Pvt. Ltd., this year’s edition will have a machinery & material to analytical and
prestigious line-up of over 250 exhibi- lab instruments, APIs, excipients, formu- For more information, visit www. TRADING PLATFORM
tors from 25+ countries, “unveiling cut- lations, and contract manufacturers. ArabPharmaExpo.com Indian Gas Exchange expects 35% jump in gas
Drug fi rms told to set up system for product recalls trading in FY25

Domestic drug companies will ernment as part of efforts to improve quality problems, and put in place a Indian Gas Exchange (IGX) is The spot prices in the international mar- Green hydrogen trading platform
have to set up a comprehensive system the quality of Indian-made drugs and pharmacovigilance system. The newly expecting a 35% jump in gas traded on kets have softened during the last year On the proposed green hydrogen
for “prompt and effective” recall of pharma products. A notifi cation to this notifi ed Schedule M rules on GMP for its platform during the current fi nancial and so the market for gas has improved. trading platform that IGX has
sub-standard products, according to the effect was issued by the ministry in pharmaceutical companies in India call year on the back of increased demand. Earlier, when the prices were higher, planned to set up in GIFT City along
revised ‘Schedule M’ rules of the Drugs January. The government has also made for quality audits at least once in a year. During 2022-23, over 5.1-crore mmBtu a number of industries were not using it. with Gujarat State Petroleum Corpo-
and Cosmetics Act. A report in a lead- it mandatory for companies to report to For implementation of the rules, the of gas was traded on IGX platform. The price of gas which was around ration (GSPC) and the International
ing fi nancial daily stated that at a recent the Drug Controller General of India health ministry has been conducting This fell to 4-crore mmBtu in 2023-24. $15-16 per mmBtu has come down to Financial Services Centre (IFSC),
meeting called by the health ministry, (DCGI) if there is manufacturing workshops and giving presentations to “This year we expect almost a 35% $9-10. This softening of prices will surely Mr. Mediratta said, “We are at a discus-
pharma companies were asked to ad- defect, product deterioration, or serious pharma companies. increase in gas trading. The increased propel demand for gas,” he added. sion stage. The green hydrogen plants
here to the new norms, which also say demand from gas-fi red power plants, have just started to be set up. We are
that a manufacturer recalling a drug Natco gets EIR on pharmacovigilance city gas distribution networks and ferti- Currently, Gujarat is the biggest waiting for the market to develop.
will have to convey it to the country’s requirements liser units and industry will propel consumer of natural gas in India, Once the green hydrogen production
drug regulator, too. the growth,” said Mr. Rajesh Kumar followed by Maharashtra. “Of the 185 reaches a certain level, we will launch
Hyderabad-based Natco Pharma has last year, Natco informed the successful Mediratta, MD and CEO, IGX. million metric standard cubic metres a platform. Before that we will create
‘Schedule M’, which mentions received the Establishment Inspection completion of the USFDA’s inspection of per day of total gas consumption in a price index, which can give us an
good manufacturing practices (GMP), Report (EIR) from the US Food and Drug the fi rm’s compliance to pharmacovigilance “The growth in gas consumption India, 25% is consumed in Gujarat,” indication as to what prices the deals
is being made compulsory by the gov- Administration (USFDA). In November requirements with zero observations. has remained muted due to high prices. said Mr. Mediratta. can take place.”

146 Chemical Weekly May 7, 2024 Chemical Weekly May 7, 2024 147

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