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Mumbai, the location for its new Indian subsidiary, will also be the site for the company's Uniquity Global Conference on October 6, 2016.
Systech International has established an office in Mumbai, India, in response to a growing need for anticounterfeiting and pharmaceutical traceability solutions for the region's expanding pharmaceutical industry. Pharmaceutical manufacturers in India currently supply every market in the world, and exports have more than doubled from $7.8 billion in 2008, to $16.5 billion in 2014, according to Indian Ministry of Commerce and Industry statistics cited in the company's press release. In 2016, the Ministry expects sales to increase by nearly 84% to $26.1 billion, with generic drugs accounting for nearly 70% of the market. In addition, over 55% of exports are to countries which have enacted strict serialization and traceability regulations.
"The problem is that no two of these regulations are the same, and, therefore, Indian exporters must not only comply with all the individual mandates, but also keep abreast of a rapidly-changing regulatory landscape," notes Dr. Avi Chaudhuri, who is heading the Systech expansion in India. Systech plans to provide a comprehensive set of solutions to ensure full compliance with any and all new traceability requirements. Systech is also introducing its UniSecure anticounterfeiting technology to India. "Its biggest benefit is its non-additive and non-intrusive technology," says Chaudhuri. "Instead of using an existing overt mark already produced during packaging, such as a linear barcode, to create a covert identifier. UniSecure does not require addition of any print matter and can be used with serialized barcodes to create a robust solution that cannot be copied.
To highlight its new presence in India, the company plans to hold its next Uniquity Global Conference in Mumbai on October 6, 2016.