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Pharmaceuticals Pharmaceuticals

BIOECONOMY INTERNATIONAL BUSINESS

‘India to be among top 5 global bio-manufacturing Pharma exports grow 5% in H1: Pharmexcil

hubs by 2025’ Pharmaceutical exports grew 5% demand, increase in export scale up India’s exporters may get some
Union Minister Dr. Jitendra Singh in the fi rst half of the current fi scal of mid-level pharma companies and additional benefi ts, which can result in
year ended September 30, 2023, to clearance of pending site inspections higher quantum of exports over next 23
has said that India is poised to be $13,361-mn, compared with $12,723-mn by the US Food and Drug Adminis- months, he added. In his view, Indian
among top 5 global bio-manufacturing in the corresponding period of the tration (USFDA), Mr. Bhaskar said. companies are already being asked to
hubs by 2025. previous fi nancial year. The US, the UK and Brazil were the top- step up supplies as a measure of emer-
Speaking at the launch of the web- three destinations for Indian pharma gency even without market authori-
site of ‘Global Bio-India – 2023’, an “Overall exports in Septem- exports at $4142-mn, $370-mn and sations.
international congregation on biotech- ber grew 9% – the second highest $336-mn, respectively. All three top
nology to be held in New Delhi from monthly growth after April – which regions – NAFTA, the EU and Africa In 2022-23, pharma exports to Israel
December 4-6, 2023, Dr. Singh said recorded 9.43% growth. This is a LAC – showed healthy growth. “At grew 40% at $92-mn, compared with
India’s bio-economy has witnessed positive sign for the overall growth this run rate, overall exports in the $60-mn in the previous year. The com-
double digit growth year-on-year in the in pharmaceutical exports,” Mr. R. current fi nancial year of FY24 are pounded annual growth rate (CAGR)
last nine years, and India is now being Uday Bhaskar, Director General, likely to surpass the $27-bn mark,” for the last fi ve years is 22%, Pharm-
rated among the top 12 biotechnology and has made signifi cant contributions engaged with lavender cultivation and Pharmaceutical Export Promotion Mr. Bhaskar said. excil data show. Overall, pharmaceuti-
destinations in the world. to various sectors including health, earning lakhs of rupees; quite a few of Council (Pharmexcil), told The Hindu cal exports registered a 3.25% growth
medicine, agriculture, industry and them do not have high qualifi cations, Businessline. War momentum in FY23 at $25.3-bn. In 2021-22,
“In 2014, India’s bioeconomy stood bio-informatics,” he added. but are very innovative.” Due to the Israel-Hamas confl ict, exports growth was almost flat at
at just about $10-bn, today it is $80-bn. The growth was driven by greater drug shortages might increase, and 0.71% at $24.62-bn.
In just eight to nine years it has gone The number of biotech start-ups, Dr. Singh noted that biotechnology
up eight times and we look forward to he noted, have grown 100 times in the has also emerged as a trending career INDUSTRY-ACADEMIA PARTNERSHIP
having a $300-bn bio-economy by last eight years – from ~52 in 2014 to option among the youth. “Tools like
2030,” he said. 6,300+ presently. Today there are over synthetic technology, genome editing, DPSRU inks MoU with Akums Drugs to promote
3,000 agri-tech start-ups, including in microbial bioresources and metabolic
“The biotechnology sector in India areas like Aroma Mission and lavender engineering now talked about often,” pharmacy education
has evolved over the last three decades cultivation. “About 4,000 people are he said.
Delhi Pharmaceutical Sciences introduce novel products for Indian Dean – DPSRU, and Ms. Arushi Jain,
WORLD LOCAL PRODUCTION FORUM and Research University (DPSRU), patients The industry-academia partner- Director, Akums. The collaboration
India and Netherlands to cooperate on Medical the fi rst Pharmacy University in India, ship will also enhance pharmaceutical aims to equip students with practical,
established by State Government, and education and research opportunities industry-relevant knowledge and
Products Regulation Akums Drugs & Pharmaceuticals, for DPSRU students. A Memoran- experience, and empower the next
a leading producer of drugs, have dum of Understanding (MoU) sealing generation of pharmaceutical profes-
embarked on a collaborative journey this partnership was recently signed sionals to contribute to the growth and
India and the Netherlands have collective action, and
signed a Memorandum of Intent foster partnerships on to research specifi c therapy-gaps and by Dr. Harvinder Popli, Registrar & development of the nation.
(MoI) on cooperation in medical sustainable local pro- BINDING AGREEMENT
product regulation. The agreement duction so as to improve
was signed by Union Minister of timely and equitable Strides Pharma sells Singapore site for $15-mn
State for Chemicals and Fertilizers, access to quality assured Strides Pharma Science said it has expenses and Rs. 57-crore in depreciation US and the products that were supplied for
Mr. Bhagwant Khuba, during his visit health products. entered into a binding agreement with and operating lease expenses. Strides said US Government procurement have been
to The Hague, to participate in the Rxilient Biohub for the sale of its manu- the transaction would be EPS (earnings transferred to the Chestnut Ridge, US
2nd World Local Production Forum According to a state- facturing facility in Singapore for per share) accretive with no impact on manufacturing site. “This transaction is the
(WLPF) organised in the Dutch city ment by the Ministry of $15-mn. Proceeds from the transaction revenues. The Singapore manufacturing culmination of the manufacturing network
from November 6-8, 2023. Chemicals and Fertilisers, will be utilised for debt reduction. site was mothballed last year as part of optimisation efforts as we continue to
cines and health technologies. This the meeting was a great opportunity manufacturing network optimisation and focus on driving profi tability and ope-
The WLPF is a platform created forum provides Member States and for India to showcase important con- This sale will also help Strides reduce cost reduction programmes announced as rational effi ciency,” the company said. The
at the initiative of WHO with the the global community with a plat- tributions made by India in the pharma annual costs by Rs. 75-crore, of which part of FY23 reset strategy. Strides said transaction is expected to close in Q3FY24
aim of increasing access to medi- form to shape strategies, galvanize sector. Rs. 18-crore will be reduction in operating efforts were focused on integrating in the on receipt of necessary approvals.

152 Chemical Weekly November 14, 2023 Chemical Weekly November 14, 2023 153

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