Updated on 2 November 2012
What are some of the challenges that companies face when they export their goods and how does Pharmexcil resolve those issues?
About two years ago, some legitimate consignments destined for Latin America and Africa were stopped in Europe while on transit on allegations of counterfeit and that these consignments were violating the norms. This issue was brought to us and we immediately took it up with the Government of India who took this seriously. Now, the authorities in Europe have stopped creating this problem.
Recently about a month ago, one of the exporters approached us with the complaint that a consignment destined for Latin America was seized at Miami. The Miami authority had seized two products: Levofloxacin (antibiotic) and Sildenafil (Viagra). The former consignment was released, but the other is still being held by the Miami authorities. The company came to us with the complaint and now the Government of India is looking into the issue. We do not take time when we know that things are clear from our side.
There are such issues that keep popping up and we deal with them at the earliest. Thanks to Government of India, which listens to us and takes quick calls, we maintain a good rapport with both exporters and importers.
What are your views on foreign direct investments (FDI) in the pharma sector?
This is not my subject. However, my perception is that FDI always helps and this system is right at least in case of large companies, because they need money for R&D and this should boost export. For SMEs, there is a huge technology requirement, and these companies have the potential but not the financial strength, so FDI will certainly help them grow.
In Asia, which kind of drugs has the strongest market?
Nutraceuticals market is growing and so is the market for anti-bacterial medicines and oncology products. Earlier, we couldn't offer oncology products, but now India is becoming strong in oncology and demand for products in this vertical is high.