The Hindu Business Line
‘Pharma industry set for big leap forward; beef up data security’
The Indian pharma industry is set for a great leap forward in the coming years and therefore all the stakeholders should brace up for the development, according to Sanjit Singh Lamba, Managing Director of Eisai Pharma India Pvt Ltd, and President of the Indian chapter of Parenteral Drug Association (PDA).
He said here on Sunday at the valedictory session of the Indian Phamaceutical Congress that the industry was growing at 15.92 per cent a year in the country and the size would grow to $ 55 billion by 2020, making India the sixth largest market globally.
He said that especially in the segment of parenteral segment there was immense scope for growth. He said the PDA was committed to disseminating by paying ₹6,500-6,800 a year.
He also stressed the importance of data security in the pharma industry and the steps to be taken for promoting it.
SV Veerramani, President of the Indian Drug Manufacturers’ Association, said the government should lend greater support to the pharma sector, as in China, especially to the MSMEs in the pharma sector.
Plea for single ministry
“There is a need to set up a single ministry at the central level for the pharma industry. At present, the industry comes under three to four ministries and it is causing a lot of problems,” he said and urged the Union Government to act immediately on the issue.
He said the new State of Andhra Pradesh after bifurcation had great potential to emerge as the pharma hub of the country and he thanked Chief Minister N Chandrababu Naidu for his support to the industry.