There is a need to establish a premier pharma/chemical research institute, such as the Indian Institute of Chemical Technology (IICT), Hyderabad, in Visakhapatnam, to accelerate the growth of the pharma industry in Andhra Pradesh, according to SS Lamba, Managing Director of Eisai Pharma.
Several other speakers echoed the view during an interaction meeting of pharma industry representatives with State Health Minister K Srinivas, here on Tuesday.
Lamba said his company, Eisai, had invested here in the Jawahar Pharma City at Parawada in Visakhapatnam district with the hope that the Centre would give the promised incentives.
“But unfortunately the Centre has imposed MAT (Minimum Alternate Tax) and that is nothing but going back on a given promise. That is why many foreign companies are unwilling to invest here. Even Eisai has stopped further investment,” he said.
He said, otherwise, there was great scope for growth of pharma city in AP, with Visakhapatnam as the base.
L Srinivas, Senior Adviser to Pharmexil, Hyderabad, said community infrastructure should be built up here, as in Hyderabad, and there should at least be two or three more pharma clusters. At present there is only one pharma cluster in AP at Parawada.
K Srinivas, Senior Scientist at IICT, Hyderabad, said a round table conference would be organised here on August 24 with the representatives of the local pharma industry, to find ways to assist the local industry. IICT, Hyderabad, would render all help to the AP industry, he promised.
In response, State Health Minister K Srinivas said a comprehensive pharma policy would be formulated and a task force appointed to address the problems of the industry.