India Sudan Pharmaceutical Business Meet in Khartoum

 

60 Indian Pharmaceutical companies visited Khartoum for Business meetings with more than 200 Sudanese professionals from the Pharmaceutical Sector at Hotel Regency in Khartoum on 22nd February 2016. The Indian delegation of 72 people were brought by Pharmaceutical Export Promotion Council of India (PHARMEXCIL). PHARMEXCIL is set up by Ministry of Commerce & Industries, Govt. of India. This event was supported by the Embassy of India, Khartoum.
The B2B meetings were held between Indian manufacturers of raw material, packaging material, finished formulations for human, veterinary medicines, herbal medicines, nutraceuticals and Sudanese manufacturers and importers of Pharmaceuticals.
India is the Pharmacy of the World. Every third tablet consumed in the world is ‘Made in India’ because India is the third largest producer of pharmaceuticals in terms of volumes. 70% of patients in developing countries receive Indian medicines. 40% of the generic drugs consumed in the USA is ‘Made in India’. There are 1400 WHO GMP approved manufacturing units in India and 1105 units are approved by Europe (CEP); 950 by Australia (TGA) and 584 sites are approved by USFDA. Outside US, the highest number of pharmaceutical manufacturing facilities approved by US is in India. In fact, US FDA has set up an office in New Delhi with many of their staff located in Mumbai. The total exports of pharmaceuticals from India in 2015 was US$ 16.8 billion.
The pharmaceutical market size in Sudan is about US$ 650 million with about 20 local manufacturing units producing 25% of the total demand and the balance 75% is being imported. 16% of the total pharmaceuticals imported are from India. The trend of importing from India is increasing because of quality products at affordable prices. The biggest challenge experienced by both India and Sudan in this trade is transfer of money. Due to US sanctions Indian banks are not accepting payment from Sudan. The higher authorities in India have been briefed about this and they are working towards resolving this issue.
There was an overwhelming response from Sudanese pharmaceutical companies at the business meetings who were genuinely interested to procure from India. Many contracts were signed. Many of them expressed their interest to partner with Indian companies either by establishing manufacturing base or by technical collaboration in Sudan.

 

2 thoughts on “India Sudan Pharmaceutical Business Meet in Khartoum

  1. Thank you for a wonderful recap. If companies in Sudan are interested in sourcing products from India they can simply place their requests on PharmaCompass, the largest free-access finished formulations database available. Connections are made without any charge and is a great way to digitally accelerate the speed of business.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s