Pharmexcil seeks assistance from Commerce Ministry in resolving export issues post GST
The Dollar Business Bureau In order to resolve the difficulties that the pharma exporters are facing with the implementation of Goods and Services Tax (GST), Pharmaceuticals Export Promotion Council of India (Pharmexcil) has asked for the assistance of the Ministry of Commerce and Industry. It has to be noted here that the Government had withdrawn incentives provided to pharmaceutical exporters under GST. Pharmexcil, in a letter written to Commerce Secretary Rita Teaotia, stated that various categories of pharmaceuticals exporters specifically manufacturer-exporters and merchant exporters have to pay GST at various stages and then they can claim for refund, which results in blocking of working capital. Because due to this, the competitive advantage of exporters would be tapered off. The Council has sought exemption ...
Thought-provoking pharma initiatives at Bio Asia 2017
Vijay Bhanu On the third day of Bio Asia 2017, major pharmaceutical company CEOs and various healthcare representatives reached out to the visitors, detailing the products and initiatives taken up by their respective companies. At the grand exhibit, Medi Tox CEO Jan Zábský, spelt out the initiatives that his company was into. Medi Tox is actively into pre-clinicalR&D of drugs associated with cardiovascular disorders, anti-influenza vaccines, neurodegenerative diseases, oncology, ophthalmology and diabetes. Their speciality products include therapeutics for animals like monkeys, dogs, pigs, etc. Zábský claimed that 10% of the company’s customers are in the Czech Republic and another 10% in India. He welcomed visitors and dispersed product information enthusiastically. Habib, a member of IIT fellowship, said that the Center of Healthcare Entrepreneurship (CFHE), situated within the IIT Hyderabad campus, conducts fellowship programmes for research in bio-design process and various major health issues plaguing the society. Talking about the programme, he said that it offers a platform for those concentrating ...
Pharmexcil to compile CAGR forecast on pharma exports
The Dollar Business Bureau Committed to enhance India’s market share in Europe, Pharmaceuticals Export Promotion Council (Pharmexcil) is planning to begin its work on preparing a document forecasting the country’s likely CAGR (compounded annual growth rate) in the coming four years. This step comes at a time when pharmaceutical sector is being recognised by government amongst the top sectors for export with high potential. In this context, Pharmexcil has been asked by the government to compile a forecast of possible CAGR in the coming four years, keeping 2015-16 as the base year with a growth rate of 4.5 percent of the country’s pharmaceutical exports to the Europe. To speed up activities, the council has already urged all the stakeholders to provide ...
Government to set-up Biopharma Industry incubator
The Dollar Business Bureau Days after the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi approved two significant foreign investments (FIs) in the pharmaceutical sector – Aurobindo Pharma Ltd; and Glenmark Pharmaceutical Ltd; Union Minister for Science & Technology and Earth Sciences Dr Harsh Vardhan, announced on Saturday that Government would soon set up the Biopharma Industry Incubator (BII) under the umbrella of CSIR-CDRI, Lucknow. The S&T Ministry is also considering setting up Government Laboratory Practices (GLP)-certified labs in CSIR-CDRI for complete range of Investigational New Drug (IND) studies. The Minister said that the step would foster new drug development as well as shore up the financial bottom line of the laboratory, said a ...
