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A Raju, Hyderabad September 28 , 2017
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) during its 13th annual general body meeting held in Hyderabad expressed optimism and predicted a positive growth of 3-5 per cent in exports by end of this year.

According to Madan Mohan Reddy, Chairman of Pharmexcil, the industry which showed a slight negative growth during the 1st four months period had done a remarkable turnaround in the second quarter and had exhibited 4 per cent positive growth in August. “Last year during this period the pharmaceutical exports were slowed down and at one stage it also even touched a slight negative growth.  However, this year industry has performed remarkably well. In August we have witnessed 4 per cent growth and we are hopeful that the industry will sustain this growth and will further pick up by next year,” Madan Mohan Reddy, who is also Director of Aurobindo Pharma, expressed hope.

In fact during the months of April-June last year, the industry had slumped down to 7.9 per cent decline in exports; however the industry had performed remarkably well and could manage to reduce the same to 4.2 per cent this year.

The experts from the council attributed the newly introduced Goods and Services Tax (GST) regime as the main reason for the slow down. “The newly introduced GST had created some hiccups in the procurement of raw material for the industry. However, over time all these hurdles have been overcome and now the industry is looking to move in the positive direction of growth,” said Udaya Bhaskar, Director General of Pharmexcil.

Apart from GST other issues that slowed the growth of pharma exports was due to fast changing regulatory environment in pharma sector across the globe. Adding to this, there are also new and emerging markets that are competing with the Indian pharma players. But all this is only shortlived.  The Indian pharmaceutical sector is exploring newer and unexplored markets in Africa and Latin America, which are quite potential markets to be tapped.

Further giving a boost to export growth is the huge potential created post patent regime. Moving in this direction many Indian pharma companies are expected to get approvals from the USFDA for new products. “Because of price pressure particularly in US markets, the pharma exports slightly declined in 2016-17 and recorded an export of $16.84 billion as against over $ 17 billion earlier,” informed Uday Bhaskar.

Post patent regime, some of the Indian companies have clinched the advantage of first to file norms. This norm gives exclusivity to the companies which have filed first. Moreover, the leading blockbuster drugs going off patient is also expected to give advantage for the Indian players. Keeping all this in view, the council is expecting 3-4 per cent overall growth in the pharma exports by end of this year.

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