Obama's second term may boost presence of indian pharma in the us
The huge push to generics in the US opens a wide playfield for Indian pharma companies.
New Delhi, November 9, 2012: There is a bright chance that the domestic generic companies will receive a booster shot during the second term of the US President Barack Obama as the country will now cement healthcare reforms which is expected to lead to more generic prescriptions. It is expected that it will give out a bigger share to the generic drug manufacturers.
In addition, as more Americans are now expected to get a health cover, it is believed that there will be more pressure to prescribe and shift to generic formulations considering the fact that they are the affordable versions of medicines.
It is no secret that there is an aggressive push towards generics in the healthcare systems across the globe. However, considering that US is the largest pharmaceutical market globally for generics totalling US$ 30 billion, the aggressive push towards generics opens a wide playfield for the Indian companies. It is worth noting here that Indian companies have cornered close to 10 per cent or US$ 8 billion of the generics market in the US and experts believe that the US will continue to depend on India for export of quality generics at affordable prices.