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Pharma biz has a lot of potential: Experts
India has a share of 40 per cent in the pharmacy/drug market globally, Drug Controller General of India Dr Somani said.
Warangal: India has a share of 40 per cent in the pharmacy/drug market globally, Drug Controller General of India Dr Somani said. Inaugurating the second National Pharmaceutical Sciences Congress-2019, at the St Peter's Institute of Pharmaceutical Sciences in Hanamkonda on Friday under the aegis of Indian Association of Colleges of Pharmacy, he said that one in every three vaccines is being manufactured in the country.
The theme of the Congress is 'connecting pharmaceutical sciences with knowledge and advancement'. "There is a lot of scope for research in the field," he said, stating that drug/pharmacy industry has grown manifold.
Dr Somani said that there is very good demand for the pharmacy students with the governments being proactive on encouraging the start-ups with opening of several centres for providing the skill development. He asked the students to grow up and innovate in the pharmacy by being young entrepreneurs.
Dr Somani advised the students to compete with the changing medical technologies in the digital era. He told to the students to never have mediocre thoughts and advised them to aim and think high.
He regretted that though he wanted to be an entrepreneur, he ended up with the top current government position. He said that Indian drug market will rule the world.
Pharmacy Council of India President Dr B Suresh said that in the times of regulatory challenges at national and international levels, the students have to make up their minds in choosing the industry or academic research or skill development. Quoting Dr Abdul Kalam, he advised the pharmacy students to "dream, dream which transform into thoughts and thoughts result in the action."
He said that doing away with the regular submission of thesis at B Pharm or M Pharm level is better and instead replace it with the appropriate mechanism in the form of industrial research.
Aurobindo Pharma Managing Director M Madan Mohan Reddy said that pharmacist's role is bigger than that of doctors as he is involved every sphere in the recovery of patients' health. Students should be more passionate about studies and further in their field of interest.
Bharath Botech International Limited Chairman and Managing Director Dr Krishna Ella said that there is plenty to explore in the pharma field. He spoke in detail about CAR-T cell therapy. In his welcome address, the St Peters Institute of Pharmaceutical Sciences Chairman T Jayapal Reddy said that pharmacy is contributing to nearly 12 to 15 per cent of India's economy and set to go up further in the future.
Around 1,700 delegates from various pharmacy colleges from across the country participated in the two-day Pharmaceutical Congress on the first day. More than 400 papers will be presented by the pharmacy students on Saturday and the winner will take away with cash prize of Rs 10,000.
