Talk on the Pharma Industry

Mr. Pravin Iyer, Managing Director of Relicare Tech Services, delivered a riveting address providing an illuminating insight into the labyrinth of the pharmaceutical industry. His talk dissected the enigmatic landscape of this crucial sector, revealing its intricacies and opportunities. Mr. Iyer emphasized the role of the 10,000 pharmaceutical units in India on the economy, dominated by a mere 500 major players, making it a fiercely competitive arena.
He pinpointed the myriad opportunities, particularly in the domains of operations and logistics within the pharma sector. Mr.Iyer accentuated the industry's dynamism, emphasizing the need for creative thinkers and adept problem solvers who can navigate the chaos and challenges inherent in pharmaceutical management. He elucidated the four major stakeholders in the pharmaceutical industry: consumers, health providers (hospitals), businesses (such as the water industry), and the government. With precision, he detailed the typical 20-year life cycle of a new drug application, stressing the crucial role of funding and investment in India's pharmaceutical future. Notably, he commended the abundant talent pool within the country, especially in inorganic chemistry.
This session was delivered on November 29, 2023, as a technical session to two day the 8th International Economics Conference on the theme of “Economic Growth and Sustainable Development: Emerging Trends”. The session was attended by conference delegates, academicians and students.