Representational image for medicines.
Credit: iStock Photo
New Delhi: Pharmaceuticals Export Promotion Council of India Chairman Namit Joshi said on Tuesday that to retain India's position as the pharmacy of the world,the pharma industry must transition towards innovation and complex generics over the next five years, including peptides, biosimilars, and biologics.
He was addressing the 18th edition of CPHI and PMEC India, organized by Informa Markets in India at the India Expo Centre, Greater Noida, Delhi-NCR.
Multiple companies are preparing for launches in upcoming segments such as obesity reduction drugs, signalling a competitive innovation wave, Joshi stated.
He noted that despite concerns around tariff threats from the US, year-to-date exports have grown by 2.31 per cent. Though growth has slowed compared to the earlier 14 per cent double-digit growth, he added.
“India’s pharmaceutical sector is rapidly shifting from a generics-led foundation to an innovation-driven ecosystem, with growing emphasis on biosimilars, peptides, complex generics, and next-generation biologics,” R Chandrashekar Joint Drugs Controller, The Central Drugs Standard Control Organisation (CDSCO), said.
The event, scheduled from 25 to 27 November, brought together over 2,000 exhibitors and 50,000 visitors from more than 120 countries, including China, Italy, Germany, Switzerland, and South Korea.
"India's pharmaceutical sector has achieved remarkable growth, with exports doubling to $ 30 billion and nearly half of global life sciences leaders establishing operations here," Yogesh Mudras, Managing Director, Informa Markets in India, said.