Under the theme ‘Reinvigorating Daman Pharma Inc,’ Express Pharma organised a thought leadership summit in Daman in November. The summit witnessed experts from the industry discuss the advantages that the pharma industry enjoys in the region, the operational and regulatory challenges it faces and the need for infrastructure up-gradation in the region
The competition in the generic medicines market is touted to become fiercer. According to ICRA, the generics medicine sector is set to grow at 11-13 per cent in FY2020. However, in the face of ever-evolving factors challenges like regulatory reforms, pricing pressures, etc, the industry will have to gear up for a tough road ahead. Under such circumstances, it becomes imperative for the Indian Pharma Inc to examine its existing avenues to remain relevant in the competition. Daman, with nascent infrastructure, is one such avenue with potential that remains untapped. Many major domestic pharma companies have already stationed their export-oriented manufacturing units which are meeting global regulatory requirements. Though the leisure period of tax incentives is over, companies have still opted to continue their operations in the region. Yet, the fact remains that the tiny Union Territory situated on the western coast of India still has a lot of transformation to go under before it can significantly boost the Indian Pharma Inc’s growth.