India Sees First Significant Decline In Drug Sales Growth
This article was originally published in PharmAsia News
Executive SummaryThe growth rate of India's generics drug industry fell to just 3.6 percent during the year ending in September, down from 11.4 percent the previous year. IMS Health research company attributed the reduced growth rate to increased competition and a need to reduce costs during that period. Some of the decline could be due to a decline in U.S. sales, which fell by 2.7 percent in September even though the volume of generics grew by 5.4 percent. The United States buys about half of India's overall drug exports, valued at $7 billion. IMS called 2008 the first significant decline in sales growth in the pharma industry. (Click here for more
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