Indian exports to US unaffected: Ind-Ra
Despite the import alerts, the Indian exports are expected to remain unaffected.
Mumbai, May 08, 2014: Indian pharmaceutical exports to the US are expecting to keep growing in spite of the recent import alerts on few of the Indian facilities by the US Food and Drug Administration (USFDA), according to a report by India Ratings & research (Ind-Ra). The report believes that the potential for the domestic pharma industry to grow at a CAGR of 20 per cent over the next five years. Additionally, export growth to the US is also likely to be robust given the large proportion of abbreviated new drug applications (ANDAs) received by the Indian companies
It may be noted here that Indian pharma facilities registered with the USFDA is highest for any country outside the US and stood at 523, as on March 2014.
The Indian pharma industry is expected to establish quality assurance processes as well as a compliance culture going forward. It is worth mentioning that US has become the single largest destination for Indian pharma exports. It is expected that this trend will continue for the next coming years as well.