A delegation of 80 companies from the Indian pharmaceutical sector will visit the city of Bogotá on February 22 and 23 in order to strengthen alliances and contacts with the pharmaceutical business community in Colombia.
This is the third visit of these businessmen to the country, Since 2017 they have been making trips to Colombia to bring their products to the national territory.
The 80 pharmaceutical entrepreneurs will be at the Casa Dann Carlton hotel to participate in the iPHEX Latam, the Latin American version of iPHEX, one of the largest and most important events in the pharmaceutical sector in India.
At the event, organized by Pharmexcil (a government agency of India), A series of meetings will be held with allies in order to publicize the catalog of Indian products. It also seeks to strengthen alliances with Colombia and other countries participating in business meetings.
According to the organizers of iPHEX Latam, “after the inaugural session and conferences, Colombian visitors and visitors from other countries will meet with Indian businessmen at pre-numbered tables. Each business meeting will last 30 minutes.
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This is a good opportunity for the Colombian market
For Cristian Salamanca, advisor to the Indian Embassy and organizer of the event in Bogotá, This is a good opportunity for the Colombian market taking into account that it will help strengthen business, to encourage foreign investment and bring affordable medicine options for the health sector in Colombia.
“This country is strong when it comes to bronchial aerosols, anticancer lines, as well as generics, vaccines and some items for HIV control,” said Salamanca.
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The visit of the business delegation seeks to consolidate alliances in the pharmaceutical sector of Colombia and India. Currently, this Asian nation supplies 20 percent of the world's generic medicines.
Nowadays, Its more than 3,000 companies and 10,500 pharmaceutical manufacturing plants are responsible for exporting medicines to more than 200 countries around the world. Many of them reach a value 50 percent cheaper than their equivalents on the market.
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In 2023 alone, India's pharmaceutical sector saw a growth of 15.92 percent, which is equivalent to $50 billion.
India is also a leading country in the production of vaccines. It is responsible for the production of 60 percent of the biologicals received by the World Health Organization, making it considered by many as “the pharmacy” of the world.
INTERNATIONAL EDITORIAL
TIME
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