The agreement has been executed within the Russian-Indian Forum of small and medium-sized enterprises, which was held in Mumbai and organized by the Ministry of Industry and Trade of the Russian Federation, the Russian Export Center, and the Confederation of Indian Industry. The main purpose of the Russian-Indian Forum was to develop relations between small and medium-sized enterprises, as well as encourage high technology start-ups. More than 50 Russian participants ready to be partners in the project implementation in India and about two hundred Indian companies took part in the business forum.
Denis Manturov, the Minister of Industry and Trade of the Russian Federation and Suresh Prabhu, the Minister of Commerce & Industry and Civil Aviation of the Republic of India took part in the Forum. Vikram Punia, President of the Pharmasyntez Group of companies, also addressed the forum. He noted that today regulation of the Russian pharmaceutical market concerning appropriate requirements of international standards GxP, first of all GMP standards, is practically similar to European and even American regulatory agencies EMEA and FDA. The leveling process of the corresponding requirements and standards in all EAEU countries is nearing completion.
-An explosive growth of national pharmaceutical manufacturers has been observed in Russia for the last ten years. A great number of new manufacturing sites meeting the strictest regulatory requirements has been constructed, noted Vikram Punia. - Almost all generic products necessary for the country and people are produced in Russia nowadays. Moreover, Russian pharma companies invest actively to new innovative drugs.
According to Vikram Punia, the experience, manufacturing and research base, as well as competence of Russian pharma companies, keep up interest of Indian pharmaceutical companies with regard to business partnership.
In support of the above, Vikram Punia gave an example of agreements between the Pharmasyntez Group and Emcure, one of top-10 Indian pharma manufacturers, for technology transfer of the innovation drugs for the purpose of production and sales thereof by JSC Pharmasyntez. It is also referred to SatRX®, the drug product for the treatment of type 2 diabetes mellitus. The drug is in demand of the Indian market, since according to the official statistics, 80 million Indian people suffer from this disease. The agreement executed by and between the companies means assignment of exclusive license to the drugs for the purpose of mastering production technology thereof.
Denis Manturov, Head of Minpromtorg of the Russian Federation, emphasized in turn that Pharmasyntez is an actively developing Russian pharma manufacturer, the portfolio of which is comprised of not only generics but also innovative drugs with potential that may be of great interest for many Indian pharmaceutical companies.