Indian Pharmaceutical Companies Explore Business Opportunities In Serbia

Source: Beta

Monday, 14.09.2020.

08:47

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(Photo: Dmitry Kalinovsky/shutterstock)

(Illustration) Representatives of several Indian pharmaceutical companies are exploring business opportunities in Serbia, after a visit had been canceled in March due to the Covid-19 pandemic, Indian Ambassador to Serbia Subrata Bhattacharjee said yesterday.

– We planned on bringing to Serbia over 10 Indian pharmaceutical companies but the visit has been canceled due to coronavirus pandemic, Bhattacharjee said.

He added that Indian pharmaceutical companies were being showcased to Serbian health institutions by the Indian embassy and cooperation could be developed to benefit both countries.

Bhattacharjee stated that Indian companies could help “lower the costs of health protection in Serbia because they have the resources and personnel to produce quality drugs at a reasonable price.”

The ambassador also said that India had supplied over 120 countries with hydroxychloroquine and paracetamol, drugs used in treating COVID-19.

According to him, more than 40 of those countries are less developed hence they were supplied drugs free of charge.

In the fiscal 2019-2020 year, Serbia imported from India USD 12.7 million worth of pharmaceutical products, which is double relative to 2015. when the import was worth USD 6.2 million. The Ambassador said that Serbia imported large quantities of medicinal substances, intermediates and finished drugs including antibiotics, steroids and herbal medicines.

India is among top global producers of generic drugs and vaccines. Indian companies are among leaders in producing large quantities of medicinal substances and supplying the world population with potential drugs.

India is also ranked four on the list of the world`s biggest exporters of finished drugs. Looking by the value of pharmaceutical exports it`s ranked 10th and it`s first in the export of generic drugs.

Pharmaceutical industry of India is well known for its chemistry experts who. along with the leading world professionals can produce highly affordable drugs thus lowering healthcare costs.

Companies:

Ambasada Indije u Beogradu

Tags:

Subrata Bhattacharjee

pharmaceutical companies

vaccine

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