India’s Pharmexcil Revises Downward Drug Export Forecast
This article was originally published in PharmAsia News
Executive Summary
India's drug-exporting promoter forecasts a 10 percent decline in the growth of pharmaceutical exports in the 2008-2009 period due to the global economic slowdown. The Pharmaceutical Export Promotion Council revised its previous forecast for exports for the period, at $8.97 billion, to just $8.25 billion. That translates to a 13.9 percent growth rate rather than 23.9 predicted earlier. Pharmexcil cited the tightened credit market as a major contributor to the revised prospects, with some developing countries having to cancel expansions of their health care programs. (Click here for more