The Indian Pharmaceutical Manufacturers' Association (IPMA) has signed a memorandum of cooperation with the Pharmaceuticals Export Promotion Council of India (Pharmexcil).

The IPMA told Interfax-Ukraine the activities of Pharmexcil are coordinated by the administrative committee, consisting of representatives of the well-known pharmaceutical manufacturers JB Chemicals & Pharmaceuticals Limited, Suven Life Sciences Limited, Dr. Reddy's Laboratories, Aurobindo Pharma, Luipin, Ranbaxy, Novarties, Avantis, Ipca, Shasun, Sun Pharma, Zydus Cadila, Glowchem, Calyx and others. In addition, the administrative committee includes officials from the government of India and the government of Andhra Pradesh.

"Pharmexcil's activity is an example of cooperation between government agencies and private businesses in achieving the overall goal of popularizing the capabilities of the pharmaceutical sector in India with an emphasis on its export capabilities," IPMA Head Dr. U.P.R. Menon said, adding that the signed memorandum establishes partnership relations between the IPMA and Pharmexcil to uncover the potential of the Indian pharmaceutical industry for Ukrainian patients, businesses and government agencies.

"Our organizations will exchange information, facilitate the establishment of business ties between the two countries, organize joint events to achieve this goal," he said.

According to Dr. Menon, thanks to the signing of the memorandum, the interested party from India can use the organizational and information capabilities of the IPMA to prepare for entering the Ukrainian market by receiving objective information about the market opportunities, regulatory specifics and other data from the IPMA.

"We see this as a benefit not only for the Ukrainian side, but also for the Indian side, as the IPMA can help the Ukrainian pharmaceutical business to move towards India," the company head said.

Dr. Menon noted Indian pharmaceutical products in a short time have become internationally recognized and an integral part of the world's health care system and WHO institutions. Thus, in 2006 the sales of Indian pharmaceuticals in the world amounted to more than $13 billion, by the end of 2011 some $20 billion, and by the end of the decade, according to analysts, the figure will reach $75 billion. Now India is the world's third largest producer of medicines with an annual growth of 15-20%. India accounts for one-fifth of all generics produced in the world.

"If the pace of development of the Indian pharmaceutical industry remains at the current level, then it will take a dominant position in the world pharmaceutical market in 2020. These achievements will be possible, in particular, thanks to Pharmexcil," Dr. Menon said.

Pharmexcil was established by the Ministry of Commerce and Industry of India in 2004 to promote exports from India.

The IPMA (the Indian Pharmaceutical Manufacturers' Association) brings together Indian pharmaceutical manufacturing companies that meet high international standards, including US FDA (the United States), UK MHRA (Britain), MCC (South Africa), TGA (Australia), WHO GMP (WHO), GMP (Ukraine), which have representative offices in Ukraine.