Pharma is slowing down: OPPI

The Indian pharma industry is sliding — data for August 2004 shows a 3 per cent growth — among the lowest in recent years for the ...

The Indian pharma industry is sliding — data for August 2004 shows a 3 per cent growth — among the lowest in recent years for the third consequent month.

The grim picture was painted by Ranjit Shahani, president of Organisation of Pharmaceutical Producers of India (OPPI), at its 38th annual general meeting today.

Shahani said the sector seriously lacks domestic and foreign investments. ‘‘We need strong data protection, stringent intellectual property regime, price management and harmonious regulatory processes to attract foreign investors,’’ he said.

On reasons for the disappointing growth, Dr. Ajit V Dangi of OPPI said, ‘‘Generics are eroding valuation and there have been few new products over six months, causing dull performance.’’

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