On December 18, 2023, the Embassy of India in Baku conducted a significant business meeting, aiming to highlight the capabilities and potential of the Indian pharmaceutical industry and its vital role in fulfilling the global demand for medicines and vaccines. This event attracted key Azerbaijani importers and distributors from the pharmaceutical sector, marking a notable moment in the bilateral trade relations.
In his commencement address, the Indian Ambassador to Azerbaijan, Sridharan Madhusudhanan, stressed the quality and affordability of Indian medicines, positioning India as a global "pharmacy to the world." The Ambassador urged Azerbaijani importers to increase their procurement of Indian pharmaceutical products, underscoring the benefits of reduced healthcare costs in Azerbaijan without compromising quality.
Mr. Sanjay Jain, Counsellor at the Embassy, presented an insightful overview of the Indian Pharmaceutical Industry. He informed attendees that India accounts for 20% of the global supply of generics, exporting to over 200 countries. He pointed out that India is home to over 3,000 pharma companies, with a network of over 10,500 EU-GMP manufacturing facilities. About 60,000 generic brands across 60 therapeutic categories are produced in India.
Mr. Jain underlined the quality-conscious Azerbaijani importers and distributors that 60% of Indian pharma exports are reaching the Highly Regulated Markets. India has more than 700 US-FDA-compliant plants, the highest number outside the USA. Furthermore, Indian companies have secured over 6,300 Abbreviated New Drug Application (ANDA) Market Authorizations. India supplies 40% of the generic demand by the USA and 50% of the generic demand by Africa.
He highlighted the industry's strategic shift towards bio-similars, complex generics, and precision medicine while aspiring to broaden its horizons to include biologics, new drug development, and innovation.
Given the relevance of COVID-19 pandemic and the vaccines, the audience was informed that India has 60% of global vaccine production and meets 90% of the World Health Organization's (WHO) demand for measles vaccine and 40% to 70% of the WHO demand for DPT (Diphtheria, Tetanus and Pertussis) and Bacillus Calmette–Guérin (BCG) vaccines. Indian Generic Anti-RetroViralS (ARV) approved by the US-FDA resulted in cost-savings of over 90% of the ARVs for US President's Emergency Plan for AIDS Relief (PEPFAR). In addition, 90% of WHO pre-qualified Active Pharmaceutical Ingredients (APIs) are sourced from India.
The event also featured a Q&A session, where Embassy officials reassured Azerbaijani importers and distributors of pharmaceutical products of comprehensive support in their efforts to diversify sourcing from the extensive array of Indian pharmaceutical products. Azerbaijani participants shared their positive experiences in trade with India, appreciating the quality of pharmaceutical products sourced from Indian manufacturers, thus reinforcing the mutual benefits and continued growth potential of this sector in both nations.
