India-China Pharma Park in south China to open ample opportunities for Indian pharma companies to market their products
Ample opportunities are opened for Indian drug manufacturers to market their products in China with the establishment of an India-China Pharma Park in the soon-to-be developed Medical Pilot Zone in Fangchenggang in south China's Guang Xi province. Doors are opened for Indian companies to invest in the pilot zone.
This was informed by Ban Zhongbo, the mayor of Fangchenggang, in a meeting of pharma industry players and bureaucrats of Tamil Nadu last week. The principal industry secretary of Tamil Nadu government, N Murukanandan also attended the meeting which was held in Chennai.
Ensuring all facilities for marketing Indian made medicines all over China, the mayor said this is a golden opportunity for pharmaceutical drug manufacturers of India to partner with the local marketers in their country. The major advantage for Indian manufacturers is that their product registration process can be completed within a period of one year provided they participate in the setting up of the Pilot Zone. Wooing Indian drug manufacturers, the mayor invited the industry doyens from India to Fangchenggang for a meeting with Chinese industry people. The mayor said doors are opened for Indian pharma players to explore opportunities to partner local companies in China to manufacture and market medicines.
The mayor headed a 15-member delegation which held discussions, apart from TN industry people, with pharma industry captains in Mumbai and in New Delhi later. In Chennai, after the meeting, the delegation visited the manufacturing plant of Fouurrts India Laboratories near Vandalur.
The meeting was organised in Chennai by the Tamil Nadu branch of the Indian Drug Manufacturers Association. Talking about the possible advantages to be attained from the pilot zone, the chairman of TN IDMA, J Jayaseelan said if Indian drug manufacturers participate with the developers of the pilot zone in China, even the small players can also market their products in the nook and corner of that country. Generally for getting a product registered with Chinese regulatory body it requires more than five years, but if a company invests in the pilot zone it will get registration for all its products within one year. In addition to this, the custodians of the pilot zone will facilitate for marketing the products in the entire parts of the country, he said.