Incham to host pharmaceutical seminar

The Indian Chamber of Business in Vietnam (Incham) will organize a pharmaceutical seminar on the industry’s outlook this year on Friday evening at Sheraton Hotel.

Around 100 state officials, hospital representatives and pharmaceutical importers in Ho Chi Minh City are expected to participate in the event.

The event will be a chance for Indian and Vietnamese firms operating in the field and other related sectors to bolster their partnerships, said P.N.Madhusoodhanan, the head of pharmaceutical sector of Incham board of governors.

We are seeking for more accessibility at Vietnamese hospital, he told Tuoi Tre.

Incham has 42 member companies operating in pharmaceutical manufacturing and trading among 120 Indian firms operating in the industry with over 4,500 products in Vietnam.

Indian pharmaceutical companies are trying their best in helping healthcare professionals and the people of Vietnam to access unmet medical needs by producing international quality medicines at affordable prices, Madhusoodhanan said.

Indian-made medicines, meeting any strictest international standards, can be averagely 10-times cheaper than those produced in developed world, he said.

Since many EU and US pharmaceutical firms have been outsourcing their Research and Development (R&D) work in India to cut cost, India now can produce more medicines at fair prices when the 20-year patent protection for any drugs expires.

They are also playing a significant role in the development of Vietnamese pharmaceutical industry through knowledge sharing, and being source of quality active pharmaceutical ingredients (API), machinery and technology, he added.

Their market shares in Vietnam are around 20 percent in volume and 30 percent in value of the sector.
If the collaboration between Indian and Vietnamese firms can be strengthened, the proportion of 20 percent of Vietnamese patients getting diagnosis and treatment will be improved, said Rajiv Sharma, director of Indian Reliv Healthcare Inc.

India is now the world’s 3rd and 14th largest producers of pharmaceuticals by volume and value respectively. It is exporting medicines to 151 countries and territories worldwide.

Its leading foreign markets last year were US, UK, and Germany with $1.8 billion, $264 million and $243 million respectively. Vietnam was ranked 12th among its foreign markets with around $103 million.

For more information and registration, please contact Ms. Phuong at (083) 823 85 30. – Source: Tuoitre

Tags: Incham