Last Updated on February 25, 2025 by The Health Master
Opportunity
The Indian pharmaceutical industry is having opportunity for significant growth in the Latin American market.
The Indian Embassy in Venezuela has recently announced an urgent requirement of active pharmaceutical ingredients (APIs) and raw materials from Indian manufacturers.
This is really a golden opportunity for Indian pharmaceutical manufacturers to enter the Venezuelan market and supply their drugs to the healthcare needs of Venezuela.
Key Requirements of the Opportunity
The Venezuelan manufacturing companies require a wide range of active pharmaceutical ingredients and other essential materials, including:
- Acetaminophen Micronized Powder: An analgesic and antipyretic.
- Benzoic Acid & Citric Acid: Widely used in pharmaceutical formulations and food preservation.
- Amlodipine Besylate: A key ingredient used in the manufacturing of antihypertensive drugs.
- Aspirin: A globally recognized and widely used pain reliever and anti-inflammatory drug.
- Atorvastatin Calcium: A widely prescribed drug used in the treatment of cholesterol-lowering.
- Sodium Benzoate: it is a common preservative used in the manufacturing of pharmaceuticals and food products.
- Isopropyl Alcohol: A versatile solvent used during the process of various pharmaceutical applications.
- Corn Starch: An essential excipient used in the manufacturing of tablet and capsule formulations.
Benefits for Indian Pharma Companies
This opportunity is very crucial for Indian pharmaceutical manufacturers to enter the Venezuelan market and supply the drugs to establish long-term business relationships with respect to supply APIs.
Indian companies can contribute to improving healthcare access in Venezuela by means supplying essential APIs and other raw materials.
Indian pharma companies are already having a strong track record in the manufacturing of APIs and having the wide expertise and capacity to meet the Venezuelan demand.
Pharmexcil appeals to Indian pharma manufacturers
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has appealed to the member companies to show their interest in supplying the active pharmaceutical ingredients and other raw materials to the Venezuelan market.
Interested pharma companies can submit their interest through a designated Google Form.
Role of Pharmexcil
Pharmexcil, established by the Ministry of Commerce & Industry, plays a very important role in promoting the export of Indian pharmaceutical products.
Pharmexcil will compile the submitted applications and forward them to the Indian Embassy in Caracas, helping trade opportunities between Indian companies and Venezuelan buyers.
Pharmexcil provides all assistance to Indian pharma companies to enter the new markets globally by means of providing valuable market insights, including regulatory guidelines and export opportunities.
Pharmexcil provides all support to the Indian pharma manufacturers by organizing various events, which include business delegations, trade fairs, and buyer-seller meets, to connect Indian exporters with global partners.
What are the key requirements for Indian pharma companies to participate?
Companies must have SRA approvals and the capacity to produce the required APIs and raw materials.
How can companies show their interest?
By submitting their interest through the designated Google Form.
What are the benefits of participating in this initiative?
Expanding market reach globally, fulfilling important healthcare needs, and leveraging existing strengths in API manufacturing.
Disclaimer: This article contains information obtained from the source mentioned below. Our team made changes in the format to rewrite and present the news or article in a unique format.
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