Pack-Man’s peek at the world of pharma

Pack-Man covers the trends in pharma packaging for you. From InnoPack Pharma Confex, 5th Annual Pharma Packaging Conference, a national pharma innovation system - and Dr Reddy’s aim to upscale growth over pharma market.

29 Jun 2023 | By WhatPackaging? Team

Pack-Man says the revenues 16 pharma firms which includes Wockhardt, Torrent Pharmaceuticals, Pfizer, Abbott India, Cipla, Lupin, Sun Pharmaceuticals and Dr Reddy's will grow by 6-8% in FY2024

InnoPack Pharma Confex 2023

We overheard an interesting conversation at InnoPack about how Big Pharma is minting money. And Covid has taught us that we need low-cost patent-free vaccines for global health which can bypass Big Pharma. The two-day pharma packaging conference cum exhibition was held at Hotel Sahara Star, Mumbai on 21-22 June 2023.

The show was marked by the presence of the pharma packaging professionals and industry stalwarts who discussed the pharma and pharma packaging scope in India.

The unique combination comprised an exhibition floor, semi-scientific conferences and a dedicated spotlight for innovations. The focus was ‘Unparalleled innovations from the best pharma packaging minds’.

Fifth Annual Pharma Packaging Conference in August

Last year PackMan asked a senior official at a pharma company, “do you think packaging in India is over-engineered? The reply from the GM – sales and marketing at the company was: "Packaging plays a vital role in the OTC market, without a doubt"

Pack-Man suspects some of this will be discussed on 2 August.

Hosted by Virtue Insights, at The Kohinoor Continental, Mumbai on 2 August 2023, the conference will focus on securing supply chain, and quality management in the packaging industry.

The conference will have panel discussions who include industry stalwarts like Amit Kale and Gaurav Bhatia of Reliance Retail; Neetta Mohit of Abbott; Girish Srivastava of Sun Pharma; Madhav Zaveri of Cipla; and many other prominent pharma and packaging company leaders.

A national innovation system for pharma

According to a report in a national business daily, the Indian pharmaceutical industry is the third largest volume-wise, with a 10% share. Backed by innovation, it is expected to achieve the goal to grow three times by 2030.

Naushad Forbes, co-chairman, Forbes Marshall and Satish Reddy, chairman, Dr Reddy’s have contributed their research findings in a column: A national innovation system for pharma. The country’s top five firms account a turnover of USD 1.5-bn, over average spend of USD 7-bn by firms on R&D. The pharma industry must invest in R&D to accomplish the goal, which will take over ten years.

The billion dollar Q is: Will the pharma industry pop the bitter pill?

Epharma regulations clash for online

According to Venture Intelligence, offline retailers (more than 8,00,000 in India) are resentful about online pharmacies being allowed to sell habit-forming drugs, anti-tubercular drugs, and higher antibiotics.

Their sources report consumers in India are worried about the misuse of health data with third parties, thereby the risk of infringement of data privacy about medicine history.

Dr Reddy’s aims to upscale growth over pharma market

The company eyes to expand their market share by 2-3%, which can increase their Ebitda rating. And, it has maintained its Reduce rating with assigned fair value of Rs 4,800. 

Dr Reddy’s will launch 7- products in the market in upcoming 7-8 years. Currently, the company has installed a biologics capacity of 15 KI that will increase.

Pack-Man figures out this will benefit the company in its domestic growth.
 

Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

20.69%

Corrugated boxes

 

48.28%

Paper bags

 

27.59%

Recyclable plastic (bubble wraps, bio-plastic)

 

3.45%

Total Votes : 29

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