Thursday, May 19, 2022
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Andhra Pradesh | Pli Scheme To Spur Growth In Pharma Sector

PLI scheme to spur growth in pharma sector

By Telangana Today
Published: Published Date - 06:14 PM, Thu - 23 December 21

Visakhapatnam: The Production-Linked Incentive (PLI) scheme of the Central government for pharmaceuticals would accelerate further growth in the pharma sector, according to the Joint Secretary-Department of Pharmaceuticals.

Addressing Pharma Mart 2021 conference `Pharma manufacturing industry: Challenges and opportunities’ organised by the Confederation of Indian Industry (CII) through virtual mode here on Thursday, he said that the Government had adopted a facilitative approach towards the pharma industry to comply with various regulations.

Medical devices and bulk drugs would have greater opportunities for industry in the days ahead, he felt.

Director, Aurobindo Pharma Ltd., M. Madan Mohan Reddy, in his special address, said that the Indian pharma industry had great potential to export given the size of the pharma market across the globe. Referring to opportunities in the Pharma sector he said that Biosimilars and vaccines have greater advantage for industry in India. He felt that India leads the way with the highest number of approved biosimilars. Fermentation products would also have great demand in the coming days, he stated.

He also observed that there had been an increasing trend of contract manufacturing. Several Multinational companies were choosing contract manufacturing to establish their base and to take the cost advantage in India. He emphasized on the sustainability of growth in the Pharma sector. He was of the view that continuous collaboration between Industry and University is essential for developing new products.

Conference Chairman CII Andhra Pradesh Pharma Mart 2021& CEO, Ajinomoto Bio-Pharma Services India Pvt Ltd., KVV Raju said that the conference would provide a forum for the Pharma fraternity to deliberate on the roadmap for accelerating growth in the pharma sector. He said that the Indian pharmaceuticals market had characteristics that make it unique. Initially the branded generics dominate, making up for 70 to 80 per cent of the retail market.

Secondly, the local players had enjoyed a dominant position driven by formulation development capabilities and early investments, he felt.

Chairman of CII Andhra Pradesh and Executive Chairman, Vijay Nagar Biotech Pvt Ltd., D. Tirupathi Raju who welcomed the gathering said that the strength of the Andhra Pradesh pharma industry lay in its strong base with established pharmaceutical organizations and strong Research & Development centers. The Pharma City at Visakhapatnam is offering immense opportunities for industries in Andhra Pradesh, he noted.


Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .


  • Follow Us :
  • Tags
  • ajinomoto
  • CII
  • Confederation of Indian Industry
  • Joint Secretary-Department of Pharmaceuticals

Related News

  • Rs 14,634 cr Adani data centre in Vizag gets nod

  • Vizag railway station is ‘Eat Right Station’ in Andhra Pradesh

  • Trains including Howrah-Secunderabad Falaknuma Express cancelled, regulated due to works

  • AP: Bride collapses during wedding ceremony in Vizag

  • Visakhapatnam: Woman delivers baby in train toilet, leaves him

  • Tough flight for passengers after Air India runs into rough weather

Latest News

  • CM KCR embarks on ‘national mission’

    1 hour ago
  • I want to dedicate this victory to all Indians: Telangana’s Nikhat Zareen

    1 hour ago
  • Opinion: Life within Dark Media

    2 hours ago
  • Editorial: Go beyond optics

    2 hours ago
  • Working women face accommodation problem in Hyderabad

    2 hours ago
  • 17.89 lakh acres to be cultivated in erstwhile Warangal

    2 hours ago
  • ‘Credibility’ crisis hits Almas Global

    2 hours ago
  • 15-year-old Hyderabadi encourages students to use old textbooks to save trees

    2 hours ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam