Search Result for : India Pharma Exports

The Dollar Business Bureau Moving of manufacturing bases to international markets by some domestic firms and lack of blockbuster drugs going off-patent are some of the reasons for decline in country’s pharma exports, C R Chaudhary, Minister of State for Commerce and Industry informed the Parliament on Wednesday.  The pharmaceutical exports dropped by 0.43% in terms of value and 6.95% in terms of volumes in financial year 2016-17, Chaudhary said in a written response to the Rajya Sabha.  The Minister said some of the reasons for decline in pharma exports include consolidation of buyers in the US into three large groups with significant bargaining power, absence of blockbuster drugs going off-patent and certain Indian companies shifting their manufacturing bases to the US, EU ...

The Dollar Business Bureau  Despite many hurdles, pricing pressures and competition from other major pharma producing countries, India’s pharma exports to the US will in all likelihood increase in 2017-18. Drugs worth $50bn are expected to become off-patented this year giving enough room for pharma exports to get a boost, a report by Care Ratings revealed.  The Indian Pharma industry is likely to face stiff competition from other countries to get Abbreviated New Drug Application(ANDA) approval. Other than this the pricing pressure is likely to increase in the generics market due to the consolidation of distribution channels and increase in competition the report detailed. However due to gain in the sales of generics drugs with branded drugs going off patent during 2017-19, will ...

The Dollar Business Bureau A leading Indian pharmaceuticals company Aurobindo Pharma has said that it would widen its product portfolio in the American market while planning to enter new markets in the Europe, a part of the company’s growth strategy in the coming 3-4 years. In the US market, Aurobindo Pharma plans to widen its portfolio through faster growth in OTC, injectable and higher complexity products, the company said in a presentation to investors. However, in European market, the company plans to enhance its presence in new geographies like Czech Republic and Poland, in addition to strengthening its position in the existing markets of Germany, France, Spain, Netherlands and the UK. Aurobindo Pharma is the 6th largest generic company by volume in the US, ...

The Dollar Business Bureau Indian government has come up with a proposal for the crisis-hit Venezuela for settling the dues of India’s pharmaceutical companies through the oil that it shipped to India. “The Government of India has put-forth an 'oil for export mechanism' between government of Venezuela and Government of India to settle pending payments of pharmaceutical companies,” Commerce and Industry Minister Nirmala Sitharaman said in a written response to the Rajya Sabha. The Minister said that the proposal tries to find out a mechanism to balance the payments, which are due to be done to the oil firms of Venezuela against the payments due of Indian companies. "However, the Venezuelan side has not given any response yet," she added. The pharmaceutical exporters of India ...

The Dollar Business Bureau  Pharmaceutical exports from India could go beyond $14 billion mark in 2016, touching $20 billion by 2020 and witnessing a compounded annual growth rate (CAGR) of around 8 percent, a study conducted by ASSOCHAM and TechSci Research released on Thursday said. “However, the growth in exports of pharmaceutical products from India may drop by at least half to around 8 percent during 2015-2020, from the CAGR level of 15 percent recorded during 2010-14. The decline is due to delay in approvals from regulatory bodies in major markets of the world such as US, Russia, Africa, etc,” said the joint study conducted by ASSOCHAM and TechSci Research. The study also highlighted that consolidation of pharmaceutical ...

The Dollar Business Bureau Committed to enhance India’s market share in Europe, Pharmaceuticals Export Promotion Council (Pharmexcil) is planning to begin its work on preparing a document forecasting the country’s likely CAGR (compounded annual growth rate) in the coming four years. This step comes at a time when pharmaceutical sector is being recognised by government amongst the top sectors for export with high potential. In this context, Pharmexcil has been asked by the government to compile a forecast of possible CAGR in the coming four years, keeping 2015-16 as the base year with a growth rate of 4.5 percent of the country’s pharmaceutical exports to the Europe. To speed up activities, the council has already urged all the stakeholders to provide ...

Sairaj Aiyyar   Pharmexcil will soon be headed by a new Chairman and Vice-Chairman, to govern the 6th committee of administration. A formal notification on the Pharmaceutical Export Promotion Council’s (Pharmexcil) website pointed out to an impending election notification, and sought nominations from its members. This is in line with the Commerce ministry’s regulations that took some time due to various internal issues. But this development is a self-inspired one, as the notification on its website explains in detail.The notification details how the council is acting on a letter dated 7th December 2015 from the Ministry of Commerce, which directs the council to follow election guidelines and comply with para 2.92 of the Foreign Trade Policy handbook before 31st March 2016. Para ...

Sairaj Iyer | The Dollar Business Bureau   Hudu Mogtari the CEO of Ghana FDA gave a compelling and visionary presentation during the second day proceedings of Iphex at Bombay Exhibition Center, Goregaon. Mogtari arrived at the session with a contingent of policy-makers and industrialists from Ghana. There were senior officials from the Ghana health ministry, a member of the Parliament, and the executive secretary of the pharmaceutical association of Ghana, that jubilantly backed Hudu Mogtari while he delivered his presentation. Mogtari revealed that Ghana produced a mere 30% of domestic-healthcare needs, forcing them to depend on imports. In that respect Indian drugs are not only cost-effective but also of great quality. During his session he announced that to facilitate easier imports from ...