The Indian Pharmaceutical Alliance (IPA), representing large domestic drug-makers, has got a gen-next team as its helm.
Satish Reddy, Vice Chairman and Managing Director of Dr Reddy’s Laboratories, has taken over as IPA President for 2013-15. Nilesh Gupta, Lupin’s Managing Director is the new Vice President.
At a time when the pharmaceutical industry is going through a critical phase of its development, Reddy’s foresight and acumen will be of immense value to the IPA in particular and to the national industry in general, said D.G Shah, IPA secretary general.
The IPA, initially formed by eight national companies in November 1999 now has 19 companies in its fold, representing research-based national pharmaceutical companies, the IPA said.
Other IPA members include Alkem Laboratories, Micro Labs, Cadila Healthcare, Natco Pharma, Cadila Pharmaceuticals, Panacea Biotec, DRL, Ranbaxy Labs, Glenmark Pharmaceuticals, Sun Pharmaceuticals Industries, Intas Pharmaceuticals, Torrent Pharmaceuticals, Ipca Laboratories, Unichem Laboratories, J.B Chemcials & Pharmaceuticals, USV Ltd, Lupin and Wockhardt.
The companies’ collective research and development spend is over Rs 2,600 crore in the year ended March 2010, the IPA said, and it accounted for almost 80 per cent of the total private sector spending in pharmaceutical research and development, it added.
“Our exports of drugs and pharmaceuticals at Rs 14,500 crore for March 2010 contributed 40 per cent of the country’s exports of drugs and pharmaceuticals and we service over one-third of the domestic market,” the note said.
In the past, the IPA has been led by erstwhile Ranbaxy head D.S Brar, Dr Reddy’s late Founder K Anji Reddy, Wockhardt founder H.F Khorakiwala and Sun Pharma founder Dilip Shanghvi, to name a few.