India produces 40-70% of the WHO demand for DPT (Diphtheria, Pertussis, Tetanus) & BCG (Bacillus Calmette-Guerin) and 90% of measles vaccine.
India is among the top 6th global Pharmaceutical producers in the
world. However, for the past 30 years Indian pharmaceutical products had
very limited access to the Argentinean market. Export of Drugs and
Pharmaceuticals to Argentina was restricted due to domestic policies of
Argentinean Government. While import of APIs in Argentina was allowed
but Pharmaceutical formulations from India was not permitted.
Indian
vaccines are exported to 150 countries. India produces 40-70% of the
WHO demand for DPT (Diphtheria, Pertussis, Tetanus) & BCG
(Bacillus Calmette-Guerin) and 90% of measles vaccine. Approximately 70%
of the patients in developing countries receive Indian medicines
through NGOs. Argentina is the third largest pharmaceutical market in
Latin America after Brazil and Mexico and in 2017 Pharmaceutical Product
import was recorded nearly US$ 2.38 billion around the world in
Argentina. Only few countries that were listed on the Presidential
Annexes enjoyed access to the market.
Government of India and
Pharmaceutical Exports Promotion Council of India (Pharmexcil) have been
trying to get India also included in the list of permitted countries.
On 8th August 2014, Government of Argentina has issued a Notification to
include INDIA in the list that has fructified due to constant efforts
by the Indian Embassy in Argentina and senior officials of the Indian
Department of Commerce.
In September 2015, Ministry of Commerce
& Industry, Pharmexcil, Ministry of External Affairs and the
Indian Embassy in Buenos Aires hosted forty Indian pharmaceutical
manufacturers and exporters for a road show, buyers-sellers meet and
market event.
Indian participants had wide ranging talks with the
Ministry of Health, public and private sector laboratories, regulatory
body ANMAT (Spanish: Adminstracion Nacional de Medicamentos, Alimentos y
Tecnologia Medica, English: National Administration of Drugs, Food
Products and Medical Technology), state governments, and Importing
& Joint Venture body ANLAB (National Administration of
Laboratories). Argentina is in the process of submitting a list of 20
drugs for immediate import from India.
Today, Indian Pharmaceutical
companies have good market access in Latin America and Caribbean, India
Exports $ 724.546 Million to LAC Countries in 2018, where export to
Argentina is only recorded $ 9.17 Million in 2017 and at the end of the
2018, only exported values is $ 9.69 Million was recorded an increase of
5.67% as shown in Column Chart (Indian Pharmaceutical Products Exports
to Argentina).
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Argentina is on 19th ranking (Not ranked in TOP-10 Pharmaceutical
Product importer from India) in import of Pharmaceutical Products in
2018 from India in LAC countries, where Brazil, Chile, Venezuela,
Colombia and Peru were the top most partners of India in Pharmaceutical
Product Import as shown in Pie Chart (Indian export Share (%) in LAC
Region), where Brazil – $ 212.3 Million, Chile – $ 62.677 Million,
Venezuela – $ 57.053 Million, Colombia – $ 52.006 Million, Peru – $
8.557 Million, Mexico – $ 34.407 Million and rest all LAC countries – $
301.953 Million.
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Most of the Pharmaceutical product export to Argentina from India is bellows:
- HS Code: 300320 – Medicament's containing antibiotics (excluding medicament's containing
Penicillin’s or derivatives thereof with a penicillanic acid structure,
or streptomycin’s or derivatives thereof).
- HS Code: 300220 – Vaccines for human medicine.
- HS Code: 300390 – Medicaments consisting of two or more constituents mixed together for therapeutic or prophylactic uses (excluding antibiotics containing hormones or steroids used as hormones, but not containing antibiotics, alkaloids or derivatives thereof, hormones or antibiotics or goods of heading 3002, 3005 or 3006).
- HS Code: 300490 – Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, put up in measured doses including those in the form of 'transdermal administration' or in forms or packing for retail sale (excluding medicament's containing antibiotics, medicament's containing hormones or steroids used as hormones, but not containing antibiotics, medicament's containing alkaloids or derivatives thereof but not containing hormones or antibiotics and medicament's containing pro-vitamins, vitamins or derivatives thereof used as vitamins).
Inspection
of all Indian drugs and medicines had to be undertaken by the
regulatory body – 'ANMAT' : The Indian companies holding USFDA and EU
certification can easily export to Argentina and prices of medicine in
Latin American countries were 2 to 18 times the prices of medicine in
India.
Interestingly, Ayurvedic medicines are easily acceptable in
Argentina and the country is seeking Joint Ventures with Indian
companies for intermediates and raw materials for pharmaceuticals that
is essentially lifesaving.
Note : This Article is published in "The Financial Express" by Author : Sandeep Wasnik.
👉 Click to read article on The Financial Express
Article by Sandeep Wasnik | Latin America & the Caribbean Market Expert
Contact : latinosbiz@gmail.com
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