Pharmexcil sees pharma exports at $22 billion in FY20

Hyderabad: Pharmaceuticals Export Promotion Council of India (Pharmexcil) on Friday said Indian pharma exports may touch $22 billion during the current financial year against $19.14 billion in FY 2019, on hopes of recovery in the USA market.

In July 2019, Indian exports recorded 21.7 percent growth to $1.72 billion (total exports from April to July this year was at $6.17 billion), a Pharmexcil official told reporters here, adding that the cumulative growth of Indian exports for the period April-July was 13 percent.

"As of June 2019, India's generic pharmaceutical exports have grown almost 2.7 to 2.8 times faster than the market (global generic market). Hence, we expect the exports to touch $22 billion in fiscal 2019-20," said Uday Bhasker, Director General, Pharmexcil.

He further said that the prices (in USA market) are now stabilised. "Even when there was price erosion, our export volumes were growing. That is why the US market has revived," he added.

Despite price erosion and cartelisation in the USA market, the market there started recovering with 13.72 percent growth in FY19 against negative growth of eight percent in FY18, he informed.

According to Pharmexcil statistics, exports to North America, Africa and European Union contribute nearly 66 percent of the total Indian pharma exports comprising bulk drugs, finished dosage formulations, Ayush and herbals.

On exports to China and Japan markets, he said the Japan market was basically not favourable for generic drugs and also doctors in that country were also not willing to promote generic versions. The registration of drugs in China takes lot of time for Indian companies. There was some policy change last year which was perceived as an opportunity for Indian exporters, he said.

Pharmexcil, a body under the Ministry of Commerce and Industry, would be organising a two-day 'International Regulators Meet' here on September 19 and 20. About 40 delegates, including some drug regulators, from 25 countries are expected to participate in the meet. DCG (I) along with CDSCO senior officials and State drugs controllers will be having deliberations with overseas regulators on harmonisation of regulations, Bhasker informed.

The countries likely to send their representatives are Brazil, Chile, Argentina, Colombia, CARICOM countries, Ukraine, Egypt, Iran, Nigeria, Cote d-Ivorie, etc.

Pharmexcil said it will be presenting 17 Outstanding Export awards during the Annual General Meeting, to be held on September 19, 2019.