During the October-December quarters of 2016, The exports of Indian pharma sector increased by 5.6% when compared with the exports during the same period last year. As per Pharmaceuticals Export Promotion Council (Pharmexcil), this data was reported.
During the second half of this fiscal, there is a rise in exports forecasted by Pharmexcil. There has been seen a rise of 9.7% for the pharma exports of India and in the last fiscal reached to $16.89 billion. The present quarter of January to ¬March from that of October-¬December 2016, will take the export growth even higher for the pharma body.
At the US Food and Drug Administration (USFDA), from India, about 700 drug manufacturing units are registered. In 2016, At least 30% of the USFDA granted abbreviated new drug applications from India. Hence, in the next fiscal, it shows that the generic exports are going to rise.
In 2015, The Indian pharma companies were granted 388 ANDAs and in 2016386 ANDAs till the month of November. To the markets of US and Europe, about 50% of the drugs produced in India are being shipped which have very high standards of regulation.
The pharma exports are stable, in terms of volume. The pharma exports have fallen by 1.96% in terms of value and during April¬-October in FY 2016-17 reached to $ 9,848.2 million from the value in the same period of FY 2015-16.
From September 2015, the US has been controlling the prices of generics which can have an impact on the Indian Pharma industry. By more export volume this fall in value can be balanced.