Millennium Post

Pharma exports increased 10.55 % to $14.6 bn last fiscal

Pharma exports increased 10.55 % to $14.6 bn last fiscal
Pharma exports grew by 10.55 per cent year-on-year to $14.6 billion during the financial year 2012-13, a top official of industry body Pharmexcil said.

During 2011-12, the exports stood at $13.2 billion, the official of Pharmaceuticals Export Promotion Council (Pharmexcil) said.
Industry experts are of the opinion that India is likely to miss its ambitious target of achieving exports worth $ 25 billion by 2014-15 at the current trend.

In rupee terms, the exports registered a growth of 25 per cent to Rs 79.4 lakh crore against Rs 63.5 lakh crore during 2011-12, said P V Appaji, the Director General of Pharmexcil.

'In spite of some recent adverse developments, with the support of Pharmexcil and government in the form of Brand India Pharma project iPHEX, the sector would continue to grow and meet the health care requirements of the developing world,' he said. The US continues to remain a top destination for pharma exports in FY13 with $ 3.7 billion, against $ 3.2 billion in FY12. UK stood at the second place in FY13 with $ 511 million exports against $ 491 million in the previous fiscal, according to Pharmexcil data. Sarabjit Kour Nangra, VP Research Specialist Pharmaceuticals, Angel Broking said the industry can grow at 20 per cent easily. 'Delay in approvals could be the reason for not showing the usual growth. The industry is certainly geared up to encash some of the blockbuster drugs that will be off-patented this year and next year,' Nangra said.

According to a senior executive of a city-based generic drug maker and exporter, achieving $ 25 billion by the end of the current fiscal is impossible given the market conditions.
'Even if the government clears all bottlenecks in pharma industry on a priority basis it will take another three years to reach the target,' the official said.
Agencies

Agencies

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