Many people think of the BRIC countries as good domestic opportunities. But as this recent article points out, the Indian export market is growing rapidly.
India’s leading pharmaceutical players will continue to experience revenue growth of over 20% this year, primarily led by exports and especially to the US, says a new report from India Ratings…
The report also sees continued good growth for Indian-made generics in other developed and “pharmerging” markets, due to patent expiries and cost-cutting measures by payers. On the back of this increasing demand, exports now account for 60% of the Indian pharma sector’s total revenues and they grew by an annual average of 19% between 2008 and 2012. In January-October 2012….
The bulk of those exports are coming to the US. This is not a surprise, as the US remains the largest market, especially for generics. The article points out that over half of the ANDAs filed in the US were from Indian firms.
However, as the recent troubles experienced by Ranbaxy demonstrate, an entire company and major incident can easily damage the reputation of an entire industry.