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Institute of
Excellence to be Set up in City
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An institute of excellence will be set up in the city soon integrating
pharmaceutical technology, biotechnology and information technology, Chief Minister N.Chandrababu Naidu has announced while inaugurating the three day 52nd Indian Pharmaceutical Congress, IPC-2000 in the city.
The Chief Minister said the venture, proposed to be set up in partnership with private parties would promote research in pharmacology and biotechnology and adhere to the world's best standards.
Entrepreneurs should come forward to join hands with State Government that the project materialised at the earliest.
Naidu expressed concern that India's share was just one per cent of the world's pharmaceutical market worth $380 billion. With more than 650 units recording an annual turnover of Rs.6,500 crore players. The State accounted for 35 per cent of the pharmaceutical production in the country.
Among other measures initiated by the Government was developing a chemical zone for the drugs and pharmaceuticals industry and facilitating the establishment of a knowledge park for the benefits of the industries to develop new molecules.
The Chief Minister said India needed to build a brand for itself in the international
market. In an era of globalisation, the Indian pharmaceutical industry would have to become world class if it has to survive.
As many as 4,000 delegates including the CEOs of Indian and foreign companies and
representatives of regulatory bodies, participated in the event. To mark the occasion, an industrial exhibition was also organised in which several manufacturers took part. A number of foreign delegates and representatives of research and development, quality assurance, clinical and hospital pharmacy marketing and distributors, regulators and academics
attended the 3-day conference.
-December '00
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