BWI: Lex Witness Presents Pharma Legal & Compliance Summit 2012 in Mumbai

Press release from Business Wire India
Source: Pharma Legal & Compliance Summit 2012
Friday, October 05, 2012 05:16 PM IST (11:46 AM GMT)
Editors: General: Consumer interest, Economy, Law & justice, People; Business: Advertising, PR & marketing, Business services, Healthcare, biotechnology & pharmaceutical, Law firms, Major diversified industrial groups, Publishing & printing
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Lex Witness Presents Pharma Legal & Compliance Summit 2012 in Mumbai
-Convened trade professionals to converse Governance, Ethics & Compliance issues affecting the fraternity-

Mumbai, Maharashtra, India, Friday, October 05, 2012 -- (Business Wire India) -- Lex Witness, India's first Magazine on Legal and Corporate Affairs today hosted a well conceptualized Pharma Legal & Compliance Summit (PLCS 2012) in Mumbai. An initiative undertaken for pharma companies, bio-pharma firms & medical device manufacturers, the summit provided an ideal platform to all business experts and stakeholders to come together and discuss issues relating to current regulatory developments, ethics and compliance issues, contract management, licensing agreements and develop a proactive legal strategy for patent litigations.

India's pharmaceutical sector is rated as World's third-largest producer in terms of volume and stands 14th in terms of value. Experts believe that India has the potential to be global hub of bio-pharma industry as the market is expanding at rising pace. However, at present a lot of changes are being witnessed in the domestic business dynamics. The recent proposal by government to codify ethics for pharma companies with uniform code of pharmaceutical marketing practices and the recent changes in MCI guidelines on gifting to doctors and medical professionals and a strong DGCI follow up in certain cases means that it is no longer business as usual.

With increased competitive pressure and closer scrutiny of regulators and other stakeholders, there is now an urgent need for pharmaceutical companies to proactively manage their internal process on governance, ethics and compliance to protect against potential financial penalties, possible product withdrawals and damaged reputations. Also, with significant investment in R&D by Pharma companies and high level of collaboration & cooperation between Indian and multinational Pharma companies in contract research and manufacturing, managing & negotiating contracts, licensing agreements and having an effective patent strategy has become more important than ever to avoid disputes posing an adverse financial and reputational impact on both parties.

Speaking on the occasion, PBA Srinivasan, Editor-in-Chief, Lex Witness said," The bio-pharmaceutical industry of India is in its emerging stage and hence right now is the time to revise the legal and compliance strategies concerned so as to ensure sustenance and future growth. Marketing practices by pharma companies of pushing their products to foreign countries is against the medical ethics and MCI rules. The need of the hour is to bring into force a new code of conduct so as to knock down the doctor-pharmaceutical nexus running in the country."

The day long discussion focussed on Fraud and Corruption Management, Legal and regulatory compliance of ethics for pharmaceutical and bio-pharma companies in India, Legal risk management strategies for new product launches, Current regulatory developments & implications of changes to regulatory framework, Trends in patent opposition and litigation, Recent developments in pre-grant and post-grant opposition, Settlement strategies, Key elements of a compliance programme, Recent changes in clinical trials documentation requirements in India, Current Legal issues in Domestic & Cross Border site contracts and Contracts, Claims & Counter Claims & Licensing agreements.

The convention also saw participation of various law firms, copyright societies, regulatory and patent filing consultants sharing their views and proficiency on the grave concerns affecting their territories. The proficient speakers' panel included Ajay Thomas-Registrar, LCIA India, Debolina Partap-Associate Vice President & Head Legal, Wockhardt Group India, Girish Gokhale-President Legal & Group General Counsel, JSW Group, K.P. Pradeep-Sr Manager Compliance, MSD Private Ltd, Marshall Mendonza-Vice President - Legal & Company Secretary, Glenmark Pharmaceuticals, Milind Antani-Head, Pharma & Life Sciences Practice Group, Nishith Desai Associates, Nasser Kabir-Vice President Legal, Strides Arcolab Limited, Priti Suri-Founder Partner, PSA, Rajeev Mukundan-General Counsel and Chief Compliance Officer, Mylan Laboratories Limited, Suhas Tuljapurkar-Managing Partner, Legasis Partners & Director, Legasis Services Pvt Ltd & Vivek Mittal- Head Legal, Lupin Pharma.

Summing up the learning's of the day Shyam Grover, Group Editor & CEO, Lex Witness said "Indian pharmaceutical industry is escalating up the value chain and its future development demand that all the rules and regulations which guide, monitor and control the conducts of the contributors of the country's healthcare system and also examine the means to bring them at par with international standards. I am delighted that we took one small step towards progress by bringing together so many professionals of pharma sphere under one roof who made us see where we stand as of now and where we have to reach."

The PLCS 2012 pioneering initiative was conceived by Lex Witness as part of a knowledge series and was sponsored by Legasis as Knowledge Partner, Nishith Desai Associates as Legal Partner, TMT Law Practices and PSA as Silver Partners, Laser GRC Solutions as Technology Partner. NMIMS Institute of Intellectual Property Studies supported the summit as Academic Partner and Society of Indian Law Firms (SILF) as Supporting Partner. The Media partners to the summit include Express Pharma, India Law Journal, Lawyers Club India, Think Legal and National Bar Association of India.

For the Editors

Ever since its inception in 2009, as a monthly Lex Witness today stands at a readership of over 2 Lacs and a mighty subscriber base of over 10,000 subscribers pan India. Beyond the seas, US & UK markets have been the primary audiences for Lex Witness. It looks forward to further its international presence in times to come. Addressing the Indian Legal Universe which is close to 5 million individuals, one of the highest in the world, Lex Witness aims to create a benchmark in the legal media domain.

Lex Witness vows to be a high quality monthly magazine with the powers of fresh and original content that would deal exclusively with subjects pertaining to legality. Country's top notch practitioners and experts are contributing, with what we feel is relevant to all stakeholders in this profession, aiming at brainstorming between the legal luminaries and hence bettering this practice in all its aspects.

Lex Witness looks forward to an aggressive line up of events scaling right from a workshop to summits and conferences. Legal Knowledge Management; Real Estate, Construction & Infrastructure & Media Advertising & Entertainment have been the primary event verticals as of now.

www.witnesslive.in | For more details on the Summit visit www.plcs2012.com

To view the photograph, please click on the link given below:

Panel discussion in progress at Pharma Legal & Compliance Summit 2012 in Mumbai, October 5, 2012
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Panel_discussion(2).jpg


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CONSUMER, ECONOMY, LAW, PEOPLE, MARKETING, BUSINESS SERVICES, HEALTHCARE, LAW FIRMS, GROUPS, PUBLISHING

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