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Tuesday, Feb 17, 2004

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`Pharma industry poised for big leap'

Our Bureau

Visakhapatnam , Feb. 16

THE pharmaceuticals industry in the country in general, and Andhra Pradesh in particular, is likely to witness phenomenal growth during the next two decades, Mr Gan Bhukta, project leader, Pfizer Inc, has said.

At a meeting in the Dr N.S. Kolla School of Business here on Monday, he said at present India accounted for only two per cent of the drugs consumed in the world and consumption would register quantum growth, as the public health would improve remarkably in the coming years. "Drug consumption is likely to go up to Rs 25,000 crore and the exports may also be of the order of Rs 20,000-30,000 crore by 2020 or so,'' he said.

He added that India would be a force to reckon with, in generics, drug intermediates and bulk drugs.

"Andhra Pradesh will also be a great beneficiary, as Hyderabad is a major bulk drug centre. Many of the units may be shifted from Hyderabad to the pharma city being set up here and many of the companies are likely to set up additional units to add to their capacities,'' he said.

Mr Bhukta said China would be a major competitor to India in drug export market, "but India has many advantages including a large English- speaking educated class.''

Prof Sivaiah, the founder of the school, presided over the meeting.

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