Poland is a booming country among Central & Eastern Europe (CEE) members of the European Union and prospects for biotech/pharma industries reflect that position. According to research and consulting firm GlobalData the Polish pharmaceutical industry is set to rise from $9.4 billion in 2016 to around $11 billion by 2021.
As many as 184 companies carried out activities in biotechnology field in Poland employing almost 9000 people according to latest statistics.
- Technologically advanced generic drugs (generics plus) and biosimilars are a chance to be successful products of Polish biotech and pharma companies on Indian market. Polish biotech and pharma sector specialize in this kind of products. Moreover, Polish companies can offer a competitive price while maintaining high quality standards of medicines - suggests Tadeusz Pietrucha, Ph.D., head of Department of Medical Biotechnology at the Medical University of Lodz (Poland) and expert of the Biotech and Pharma Promotion Program.
Increasing potential of Polish pharma and biotech market create a solid foundation for bilateral cooperation and provide opportunity also for Indian companies. According to Ada Dyndo, Mumbai Bureau Chief of the Polish Investment and Trade Agency, Poland’s investment climate makes it a preferred destination for the Indian companies considering expansion to the EU.
The access to common European market, availability of highly skilled qualified labour, excellent infrastructure coupled with R&D-focused incentive schemes and transparent legislation are just some of the features that have already attracted FDIs from major Indian companies like Glenmark and Arcelor Mittal.
Agency’s Mumbai Bureau is a response to the need of growing potential of Polish-Indian business cooperation and is expected to be launched officially in first quarter of 2019. Focused on distant markets of rapid growth with the biggest business potential for Polish companies, network of Foreign Trade Offices consists of 60 local representatives located in different parts of the world.
Representatives of the Foreign Trade Office in Mumbai keep up with the current trends prevalent on the Indian market by attending most prospective fairs, exhibitions and industry gatherings. The Head of Mumbai Office has already confirmed its participation in CPhI India scheduled to take place in Noida between 12th and 14th of December.
During the second day of the event a comprehensive press briefing focused on the potential of Poland’s Pharma and Biotech Industry will be organized on the Polish Stand 17.A01.
Exhibition in Delhi will provide another opportunity to promote Poland as an important hub for two aforementioned sectors after India Pharma event held in Bengaluru earlier this year.