Embracing Industry Innovation and Excellence at IPHEX 2024
IPHEX 2024 transcends being merely an exhibition; it serves as a hub for innovation, collaboration, and industry excellence. Developed by Pharmexcil, the event is projected to host over 450 exhibitors and draw over 20,000 industry visitors, including 400-plus invited international delegates, as stated by Raja Bhanu, director general of the Pharmaceuticals Export Promotion Council of India (Pharmexcil).
Visitor registration for the 10th International Pharmaceutical Exhibition (IPHEX) 2024, organized by Pharmexcil, began on August 6, 2024. The event is scheduled to occur from August 28 to 30 at the IEML Knowledge Park-II, Greater Noida Expressway, Delhi-NCR.
A Leading Event in India’s Pharmaceutical Sector Calendar
Initiating a milestone as the premier event in the Indian pharmaceutical calendar, IPHEX 2024 promises to be a significant occasion, presenting the largest platform yet to display the Indian pharmaceutical industry’s scope and breadth to the world.
Participants encompass a wide range of stakeholders such as manufacturers, government procurement bodies, pharma associations, distributors, importers, regulators, and media representatives, eager to delve into the latest innovations in this field.
Raja Bhanu emphasizes IPHEX 2024’s importance, stating, “This year’s IPHEX is more than just a showcase; it’s a reflection of India’s ascending role in the global pharmaceutical realm. It presents an unparalleled chance for global stakeholders to collaborate with the Indian pharmaceutical sector, observe cutting-edge innovations, and establish partnerships that will shape the future of global healthcare.”
Unveiling Indian Pharmaceutical Strength
IPHEX 2024 will encompass a broad array of sectors within pharmaceuticals, displaying advancements in formulations, biotechnology products, Active Pharmaceutical Ingredients (APIs), Ayush products, nutraceuticals, medical devices, and much more. Emerging arenas such as precision medicine, cell therapies, and immunotherapies, rapidly gaining international traction, will also be highlighted.
An enlightening series of seminars and workshops on both technical and commercial facets of pharmaceutical exports is a part of the agenda. The talks will encompass regulatory compliance, international trade standards, drug delivery system innovations, and the latest trends in biotechnology, providing actionable insights for attendees to advance in an increasingly competitive global market.
Pharmexcil’s Role in Elevating Export Initiatives
Pharmexcil, established by India’s Ministry of Commerce and Industry, leads India’s pharmaceutical export initiatives. Its mission is to facilitate Indian pharmaceutical companies in expanding their global reach through diverse initiatives, including trade fairs, exhibitions, business delegations, and collaborations with international regulatory bodies.
Raja Bhanu outlines the essence of collaboration in attaining these objectives, noting, “Collaboration is our key to success. We partner with industry stakeholders, academic institutions, and government entities to ensure our initiatives are holistic and meet industry needs. Our Centers of Excellence are the fruits of collaborative efforts, drawing together the top expertise from both industry and academia to drive innovation.”
This cooperative strategy has brought notable outcomes. India has witnessed substantive growth in medical devices and generic medicines exports, with recent data indicating a significant increase in formulations and generics exports, marking an achievement in import substitution.
Bhanu highlights, “Over half of our formulation production is now exported.”
“This success stems from strategic government initiatives like the Production-Linked Incentive (PLI) scheme, pivotal in enhancing domestic manufacturing and exports,” he added.
Supporting Startups and Encouraging Innovation
The PRIP scheme is crafted to equip startups with the resources and support necessary to introduce groundbreaking solutions to the market. The Central Government is directing its focus on areas such as precision medicine, cell therapies, and immunotherapies, encouraging startups to be at the forefront of the next wave of innovation.
Furthermore, the Government has revised the General Trade Exemption (GTE) list to facilitate the import of rare disease drugs that can’t be feasibly manufactured domestically. The Indian pharma sector advocates for duty-free imports and patient support programs, ensuring that rare disease patients have access to essential treatments.
Reinforcing Industry Infrastructure
Pharmexcil’s dedication to the pharmaceutical sector’s growth goes beyond exports and innovation, aligning with the Government’s vision to reorganize its operations to favor industry needs. This restructuring includes establishing two dedicated divisions for pharmaceuticals and the medtech sector. Industry experts have been brought in to handle diverse operational issues at various government levels.
Looking forward, Raja Bhanu remains optimistic, foreseeing substantial growth in complex generics, biosimilars, and excipients, with a future patent cliff expected to impact approximately 300 molecules, including 24 blockbuster drugs.
“We anticipate growth driven by complex generics and biosimilars, ensuring India continues its global leadership in pharmaceuticals,” Bhanu remarked.
Promoting Quality, Compliance, and Global Leadership
“Our objective is crafting an integrated policy framework to support and enhance exports,” explained Bhanu. A noteworthy advancement for the Indian pharmaceutical industry involves Pharmexcil’s opening of registrations on the Xmarket platform for suppliers aiming to engage with the United Nations Office for Project Services (UNOPS) within the Latin America and Caribbean (LAC) region.
UNOPS’ Xmarket (https://mercado.unops.org) aims to facilitate procurement processes and promote registered suppliers’ products. Through registration, Pharmexcil members gain access to global bidding processes, requests for information (RFIs), and other pivotal events in LAC. This initiative forms part of UNOPS’ broader mission to improve healthcare access in the area using expertise and offerings from global pharmaceutical suppliers.
UNOPS, recognized for implementing humanitarian and development projects globally, partners with entities like the United Nations, international financial bodies, and governments.
This initiative bolsters Pharmexcil’s ongoing dedication to boosting Indian pharmaceuticals’ global presence and creating new business opportunities for its members.
Pharmexcil recently organized the iPHEX-LATAM business delegation to Colombia, Guatemala, and Chile, supported by the Ministry of Commerce & Industry.
The gathering highlighted LAC’s growing importance as a focal export region for Indian pharmaceuticals, focusing on generic and API export opportunities.
An overview of the 33 countries in Latin America reveals this region’s emerging role as a crucial export market, currently comprising 6.78% of India’s overall pharma exports. Aiming for $28.141 billion in exports for fiscal 2024 aligns with exploring LAC’s expansive potential.
Affirming India’s Pharmaceutical Leadership
As the global pharmaceutical community comes together at IPHEX 2024, the event serves as evidence of India’s pharmaceutical leadership on the international stage. With free registration available, the exhibition expects to draw a varied and influential group of global industry participants, making it an essential event for those involved in the pharma sector.
IPHEX 2024 is more than a platform to showcase India’s prowess; it’s an opportunity for global collaboration and growth. As Raja Bhanu sums up, “The Indian pharmaceutical industry’s future shines bright. By cooperating among industry, government, and academia, we can unlock this potential and make quality healthcare accessible to all. IPHEX 2024 is a critical step, inviting the world to join us in shaping global healthcare’s future.”