March 24, 2015 | ITC Maratha, Mumbai, India
March 24, 2015, ITC Maratha, Mumbai, India
According to a pharmaceuticals sector analysis report by Equity Master, the Indian pharmaceuticals market is the third largest in terms of volume and thirteen largest in terms of value. The Indian pharma market size is expected to grow to US$ 85 billion by 2020. However, concerns regarding the quality standards continue to exist. Recognizing the need of the industry, UL in association with Indian Drug Manufacturer’s Association (IDMA) organized a one-day seminar on ‘Evolving Quality Culture in Indian Pharmaceutical Industry’.
The objective of the summit was to reveal the developments and efforts in the pharma industry to build upon testing standards and quality certifications, which will help Indian industry to expand its horizon. With structured training on managing FDA audits, inspections, and CAPA, the sector will find an impetus to take compliance with pharma industry regulations to the next level of efficiency, thereby helping to ensure quality standardization over time.
Speaking on the occasion, Mr. S.V. Veeramani, President, IDMA, said, “This seminar serves as a platform to help us look into what ails the pharmaceuticals industry. This will assist us ensure quality products that would benefit India and the global market. Today, we are one of the top 6 pharma markets in the world, but with better quality awareness and training in compliances, I hope to see India leading this space soon.”
Speaking at the summit, Mr. Suresh Sugavanam, VP and MD, UL South Asia, said, “Over the last 18 years we have focused on supporting testing and compliance for the industry to help ensure it meets global standards. For the pharma industry, UL EduNeering has launched 1200 customized online courses in India and has recently signed up with few marquee clients”.
“Today, around 70-75% of medical devices is imported, but we need to ensure this does not continue. Industry and governance need to push for manufacturing the devices indigenously. If India has to provide world-class healthcare services, adequate focus needs to be on quality and standardization,” said Mr. Sudhansh Pant, the Joint Secretary of the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India”.
In his presentation on “Human Performance Management: How Competency Development Helps in Building Efficiency,” Mr. Scott Barnard – VP Life Sciences, UL EduNeering, spoke on how lack of training is responsible for organizational audit risk. He said, “The current training programs have failed to develop a skilled and agile workforce which can adapt to changing organizations and market dynamics. There is a need for technical talent management using a combination of training and skill-gap identification. It will help identify competencies for a full range of activities across functions and conditions.”
The speakers and participants in the summit reiterated that the biggest challenge facing the industry is the lack of quality culture, which can ensure competitiveness in the global pharmaceuticals market. With the objective of setting up the best-in-class quality standards, the sector should soon be able to drive the Indian pharma market.
The challenges in regulatory compliance can be met through establishing training programs that will develop a skilled workforce, competent enough to acclimatize in a dynamic organizational environment amidst market dynamics. The seminar, attended by a diverse set of stakeholders served as yet another noteworthy forum that will help India pharma move to the next level.