Banking on patent expiry of several drugs in near future, Indian pharma majors anticipate a growth of about 15 per cent in exports this year.
Setbacks
Pharmexcil, the pharma exports body representing the industry, said here on Tuesday that there were setbacks to growth in pharma industries like shortage of skilled manpower and attrition but growth could be expected given the expiry of patents on drugs. “Several companies have filed dossiers for seeking approvals for exporting drugs the patents of which will expire,” said Madan Mohan Reddy, Chairman of Pharmexcil.
Mr. Reddy and other representatives of other pharma companies said problems like the currency crisis in Venezuela would be dealt with and would not impact the industry severely. Speaking on imports from China, industry representatives said Chinese companies mostly supplied intermediaries and active ingredients for drugs but efforts were being made to ramp up such production capabilities in India.
They also termed reports about drug production causing health and environmental problems an effort to malign the image of drug manufacturers in India. Representatives of pharmaceutical companies also announced commencement of India Pharma Week on November 17.
During the week, the CPhl and P-MEC expo, which was dubbed Asia’s largest pharma event, would see around 1,300 exhibitors showcase their products in Mumbai.
