Pharmexcil receives AP Govt fund, hunts for ED

Megha Lodha - Mumbai

ANDHRA Pradesh government has sanctioned the Rs 3 crore fund it promised to the exclusive pharmaceutical export promotion council, the Pharmexcil, which is set to commence operations from the Indian Drug Manufacturers’ Association (IDMA) premises in this city shortly.

Pharmexcil’s founder- chairman D B Mody told Express Pharma Pulse the council which will be headquartered in Hyderabad, will appoint an executive director (ED) in a fortnight. He said the fund, sanctioned on February 20, is expected any moment now.

He said the ED would function from the headquarters in Hyderabad under the aegis of the AP government. Although the Maharashtra government had earlier orally offered space for Pharmexcil in the building housing the Food and Drugs Administration in Bandra-Kurla Complex, there was no official communication in this regard, said a source.

For the time being, Pharmexcil will begin operations by April 1 from the IDMA office.

Mody said the admission fee has been waived for those who switch over from Chemexcil. New entrants, however, will have to pay the full amount.

Pharmexcil will play a supporting role to IDMA as far as intellectual property issues are concerned, said Mody. The council will have ten members on the board, with about one-third representing the small-scale industry. This number may go up to 20, he added.

meghalodha@express2.indexp.co.in