Pharma ex­ports can cross $20 bn by 2020

Chemical Industry Digest - - News & Views -

In­dia’s

pharma ex­ports can cross $20 bil­lion by 2020 even though the value of ship­ments to coun­tries, in­clud­ing the US, have been hit. Ac­cord­ing to an interview in ET, Bhaskar said that, this is due to in­creas­ing in­ter­est from neigh­bour­ing coun­tries, in­clud­ing China, on which In­dia has been heav­ily de­pen­dent for cru­cial in­gre­di­ents for its for­mu­la­tions, Ravi Uday

Bhaskar, Direc­tor Gen­eral of the

Pharma Ex­port Pro­mo­tion Coun­cil.

How­ever, the lo­cal in­dus­try needs to fo­cus on strength­en­ing its ac­tive phar­ma­ceu­ti­cal in­gre­di­ent (API) busi­ness in ad­di­tion to man­u­fac­tur­ing generic for­mu­la­tions to achieve this goal. An API is that part of a drug that pro­duces its ther­a­peu­tic ef­fects.

In­dia’s pharma ex­ports grew 2.91% to $17.27 bil­lion in 2017-18, ac­cord­ing to the coun­cil. Sev­eral coun­tries are con­sid­er­ing poli­cies to re­duce their health­care spend­ing and phar­ma­ceu­ti­cals con­trib­ute a “ma­jor share” of these ex­penses, ac­cord­ing to Bhaskar. “If the gov­ern­ments are mov­ing in that di­rec­tion they need to pur­chase gener­ics from In­dia. The en­tire world is look­ing for al­ter­na­tive man­u­fac­tur­ers of APIs as well as for­mu­la­tions.” This would be an op­por­tu­nity for In­dia to strengthen its API busi­ness, he said.

In­dia’s pharma ex­ports to China in­creased 44% to $182.67 mil­lion in 2017-18, lat­est data from the coun­cil shows. A ma­jor­ity of these ex­ports to China were APIs, said Bhaskar, adding that the in­crease in ex­ports, though small, was be­cause the coun­try was up­grad­ing some of its man­u­fac­tur­ing fa­cil­i­ties. How­ever, In­dia’s pharma ex­ports to the US and North Amer­ica, which con­trib­ute to over 30% of the coun­try’s out­bound ship­ments, dropped in 2017-18, he said.

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