10% of the drugs sold in Moldova are made in India
Almost one tenth of the drugs sold in Moldova are made in India and pharmaceutical companies of this country are interested in increasing their presence on the Moldovan drugs market.
Representatives of over 30 Indian pharmaceutical companies are taking part in the Moldova-India business forum staged in Chisinau by the Chamber of Trade and Industry in partnership with the Pharmaceuticals Export Promotion Council of India. Deputy head of the Chamber of Trade and Industry of Moldova Mihai Balba said the event is held every two years and the number of Indian businessmen who take part in it is on the rise, IPN reports.
Mihai Balba noted that bilateral meetings will be held after the business forum for the businessmen from the two states to discuss possibilities of importing medicines from India. The prices of drugs made in India are reasonable. All the pharmaceutical products are thoroughly examined and the chances for drugs of a poor quality to reach the domestic market are minimal.
Ravi Chandar, commercial representative and consular officer of the Embassy of India in Romania, who was also accredited for Moldova, said India is a world leader in the pharmaceutical industry and 70% of the drugs made in India are generic.
"India produces not very costly drugs, but these are efficient because they imply low labor costs. We have enormous support for this sector. Besides being among the largest medicine producers, India is also a large consumer of drugs. Our huge population needs drugs and this opens up the pharmaceutical market of India," stated Ravi Chandar.
According to the Chamber of Trade and Industry of Moldova, pharmaceutical trade between Moldova and India in 2015 totaled US$310 million, as opposed to US$390 million in 2014.