KOCHI: The Union Government giving its approval for the sale of nearly 481 acres of the land belonging to Fertilizers and Chemicals Travancore (FACT) in Kochi has given a fresh impetus to the State Government's proposal for setting up Pharmaceutical Park (Pharma) focusing on manufacture of generic medicines with a market value of Rs 4,000-Rs 5,000 cr.
Speaking to this newspaper, State Planning Board member Dr. B Ekbal said the decision of the Union Government is expected to escalate the process of setting up the park as the delay in getting the land has slowed down the venture, he added. The proposal envisages a park with common facilities for setting up small and medium companies manufacturing generic medicines to the tune of Rs 1,000 cr in Kochi.
Dr. Ekbal and another Planning Board member Jayan Thomas have recently visited the pharmaceutical parks in Andhra Pradesh, Telengana and Gujarat to have first-hand experience sector. According to Dr. Ekbal Kerala will have to pursue a different model from Andhra and Telengana as these states have set-up the parks in areas covering over 1,000 acres of land with support of major manufacturing companies. ‘Since Kerala is land-starved state we have to look for a different model focusing on small and medium manufacturers with good track record in the manufacture of generic medicines. The park will compliment the achievements made by the state in public health infrastructure”, he said.
Kerala is having the reputation of consuming nea-rly 10 percent of the pate-nted allopathic medicines manufactured in the country.
The average money spend by the people in the state for such medicines estimated to be around Rs 10,000 per year. The availability of quality generic medicines to the tune of Rs 1,000 cr will have an effective market value of Rs 4,000-5,000 cr when compared with the cost of patented drugs. The government plans to market the drugs under Kerala generic brand. Dr Ekbal and Thomas have visited LOCOST, a Baroda-based company engaged in the manufacture and supply of generic medicines small hospitals and clinics.
