US Exports can fuel the growth of Indian pharma companies: Report
Top Indian pharma companies are expected to grow at 20 per cent in 2013.
Mumbai, February 3, 2013: As per a recently released report from India Ratings, top Indian pharma players will continue to grow strongly at over 20 per cent in 2013, primarily because of the exports to the US market. "Of the export markets, Indian pharma will focus on the US market which presents significant opportunities for the next two years for generics, due to patent cliffs and recent changes in healthcare policies," said the India Ratings report on outlook for Indian pharmaceuticals for 2013.
As per the data from IMS Health, the global healthcare spending is expected to increase from US$ 242 billion in 2011 to US$ 430 billion in 2016. The report from India Ratings also said that the R&D spending in the pharma sector may continue to increase in 2013 as well as Indian players have started targeting complex chemistry products.
It is worth mentioning here that the Indian pharma industry has been performing well on the exports front, increasing from Rs 386 billion in 2008 to Rs 775 billion in 2012.