Pharma Exports to Surpass Retail Sales (India)
This article was originally published in PharmAsia News
India's pharmaceutical industry will export more than they sell domestically when fiscal 2007 numbers are added up, says the Indian Pharmaceutical Alliance (IPA). In fact IPA predicts India pharmaceutical exports will grow by 35 percent annually during the next five years, compared to 16 percent for Indian retail sales, widening this export-domestic gap even more. In the last full fiscal year, pharmaceutical exports of Indian companies totaled RS 24,600 crore, which is slightly below their domestic retail sales of RS 27,903 crore. "Export growth is driven by growing dependence on generics across the world to contain health expenditure, acceptance of Indian generic drugs, aggressive expansion of Indian companies in international markets, and entry of smaller companies into exports," commented IPA secretary general D.G. Shah. Furthermore, patent drugs sales totaling around $100 billion today will see their patents expire between now and 2012, presenting generic drug makers with even more opportunities worldwide. (Click here for more
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