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Govt of India and industry will jointly float a trust to promote the brand image of Indian pharma globally and fight malicious campaigns.
The trust, to be called Responsible Health Care Trust, would be registered next month, Rajeev Kher, Secretary Department of Commerce, Govt of India told newspersons on the sidelines of the 10th annual general meeting of Pharmaceutical Export Promotion Council (Pharmexcil) here on Friday.
``It will have 11 members from Govt and industry with a financial commitment of 60:40 respectively. Other operative modalities are being worked out,’’ the official said.
While addressing the delegates earlier, Kher said the pharma industry should diversify into new geographies and products to de-risk the excessive dependence on the US and Europe market.
``Even developing markets like CIS region and Latin America are seeking local production and South Africa might come up with a similar approach. It is also not easy to access the semi-regulated markets as well,’’ he said.
Stating that there was a lack of interest in markets such as China and Japan, Kher asked the companies to re-orient business strategies with focus on acquisitions.
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