The Ministry of Health in Myanmar has invited pharma companies to supply generic medicines in Myanmar. The country is looking for massive purchase of generic medicines through tenders around April 2017.
The Union ministry of commerce is planning to have a meeting on December 23, 2016 to discuss how to cater to the drug requirements of Myanmar. Embassy of India at Myanmar has shared a communication with the government of India that the Myanmar government is looking for the procurement of generic medicines through tenders and pharmaceutical products from India may be given preference in the procurement process.
Dr P V Appaji, director general of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) says, “We have received the information from the ministry of commerce and we have informed our members about the opportunity to supply generic medicines in Myanmar. If number of interested members are more we will take a team of delegation to Myanmar for better understanding.”
He further said that Indian pharma companies have a strong presence in Myanmar and Indian drugs are preferred for its quality at a reasonable cost. Myanmar is one of India’s important destination of pharmaceutical exports and about 40 per cent of medicinal requirements of Myanmar are being contributed by India.
To explore the Myanmar market, the council had also organised a buyer seller meet in Myanmar in March this year under MDA activity. During financial year 2014-15 India has exported US$ 178.58 million worth of pharmaceuticals to Myanmar.
According to Pharmexcil, in 2014, Myanmar’s pharmaceutical expenditures were an estimated US$ 390 million and it could reach as high as $1.12 billion by 2023, making it a lucrative market for Indian firms.
India exported about dollar 141 million in pharmaceutical products to Myanmar in the fiscal year 2013-14, about 1 per cent of its total dollar 15.1 billion in exports worldwide for the year.
Source: PHARMABIZ
