THE GROWING PHARMACEUTICAL EXPORT
Pharmaceutical exports from the region have registered a growth of over 60 per cent this year as against the previous year led by higher orders and up-gradation in firms.
According to data from Development Commissioner Special Economic Zone (SEZ), exports from pharmaceutical firms in fiscal year 2018/19 stood at Rs 3,771.54 crore, up 67.62 per cent as against Rs 2,249.93 crore in the past year.
Because of the high standards and quality compliance practices as per international rules,the number of orders has been increased .
Many manufacturers are clearing successful US FDA Audits, PICs Approval . New launch of biosimilars, best quality generics ate economical prices has led export revenue to reach good figure.
Industrialists said opportunities are huge for pharmaceutical companies in the region as the cost of operations and labour are economical. They expect exports to grow further in the next year.
Industrialists said, the contribution of small-scale drug manufacturers are negligible in exports and to promote them some additional subsidies to help them bear the up-gradation costs should be provided. Subsidies and Financial Support from the government will help the small drug manufacturers to increase the pharmaceutical export of the country
Ref: ET HEALTH WORLD