Drugs imported into Nigeria from India in 2014/15 worth $418m

India exported drugs worth $418 million to Nigeria between 2014 and 2015, according to data from Pharmaceuticals Export Promotion Council of India (Pharmexcil), a government agency that promotes export of Indian drugs

India exported pharmaceuticals worth $16.4 billion in 2015 to the world, while three Indian companies are now among top 50 global companies.

Following these achievements, more than 70 Indian companies are participating in the 1^st Edition of IPHEX Africa, organised by Pharmexcil.

The event will take place at the Federal Palace Hotel, Lagos, between 18th and 19th February, 2016.

‘IPHEX’ previously held events in 2011 and 2013 in Lagos under the name ‘India Pharma’.

According to the organisers, the main objective of the event is to exhibit the advanced technologies that are being developed by Indian pharma companies and also to enable the Indian companies to renew their contacts with Nigerian and other West African customers.    

India has over 1500 WHO Good Manufacturing Practice (GMP) manufacturing sites and also has the distinction of being the largest generics importing partner of USA and a major source of supply of APIs and generics to Europe.

The country contributes 15 percent of generic imports to Europe and is developing an advanced technology– breath inhalers – a new technology that delivers dosages based on the need of the patients’ body.

“One of the important factors contributing to India’s success in pharmaceuticals is the ability India has developed in creating the raw ingredients for manufacture,” says Pharmexcil.

“India has lot of SMEs engaged in providing these intermediates products. This has given the industry stability in quality as well as pricing,” the council adds.

“Development of regulatory standards has been a dynamic process all round the globe. India’s companies have kept up with the pace so far very well.  Government is also extending a helping hand wherever required to keep pace the worldwide issues, and more producers upgrade their GMPs,” the statement further reads.

 

ODINAKA ANUDU