Export growth of pharma industry decline by 50% during 2007-08

Sanjay Pingle, Mumbai The export growth of Indian pharmaceutical sector has declined by more than 50 per cent during 2007-08 due to stiff competition in the major regulated markets of the US and Europe and also because only a few products got 180 days market exclusivity in the US as compared to 2006-07. A Pharmabiz study of the export earnings of 30 leading pharmaceutical companies on FOB basis showed an increase of 17.8 per cent during 2007-08 as against a growth rate of 37.9 per cent achieved in the previous year. Steady appreciation of rupee during last year also impacted the export earnings. The export growth in pharmaceuticals is set for a further fall in the current year as the recession is gripping the highly lucrative western markets. Stringent approval norms in the US and Europe and the US FDA action against 31... [read full story]