India reputation findings released as CPhI & P-MEC India set to welcome 50,000 pharma executives
CPhI & P-MEC India — organised by UBM — is set to welcome more than 50,000 attendees as the CPhI Global Pharma Index shows the country’s efforts to improve its reputation are paying dividends.
India emerged successful in a number of key areas and was ranked by international pharma companies as the third most competitive nation globally.
The inaugural CPhI Global Pharma Index — an audit measuring reputation — draws on the insights of 500 international pharmaceutical companies from more than 40 countries to rank the major pharma economies out of ten across a spread of criteria.
These findings are announced as the 11th annual CPhI & P-MEC India 2017 is set to open later this month in Mumbai, 27-30 November.
India was rated second globally for predicted ‘pharma market growth potential’, with respondents citing high growth domestic markets and expanding manufacturing exports as key drivers (see figure 1).
The confidence in India, was such that the country was chosen as the third most competitive pharma business destination, with a score of 6.3, behind only the USA (6.9) and Germany (6.6), but ahead of Japan and China (see figure 2).1
India’s recent efforts to increase pharmaceutical manufacturing quality also appear to be having an effect. The perception of India’s ‘API manufacturing’ seems to be improving, with the industry believing India is broadly comparable to Italy, Spain, and Korea, though it is still behind tier one nations such as Germany and the USA (see figure 3).
For ‘quality and knowledge’ of pharmaceutical professionals, India (6.2) came notably ahead of China, Korea and Spain, and at a comparable level to that of Italy (6.5). Interestingly, and perhaps highlighting India’s efforts in patented and biosimilar drug development, the country also demonstrated growth in the category of ‘innovativeness’, which remains a key component for the creation of new medicines. In this category, India finished a little behind Korea and France, and ahead of Italy and Spain (see figure 4).
“Ultimately, the fundamentals of progression in the country are extremely strong – boasting over 24,000 pharmaceutical companies and 10,500 plants — coupled with Government support, increased investment and an improving regulatory reputation, there is a real sense amongst attendees at CPhI & P-MEC India that the country’s pharma sector is preparing to enter the next stage in its advancement.”
“This event is the perfect place for companies to explore the latest trends and innovations the market has to offer and meet the movers and shakers in the domestic and international pharma machinery, technology and ingredients industries,” said Rutger Oudejans, Brand Director Pharma at UBM.