|
In a move to encourage Indian pharmaceutical exporters to increase exports globally by addressing problems faced by them in different geographical locations, the department of pharmaceuticals (DoP) has directed Indian pharmaceutical exporters to report country-specific export issues.
The direction to exporters came from Navdeep Rinwa, joint secretary, DoP following a representation by Indian Drug Manufacturers' Association (IDMA). Such inputs will strengthen the department with appropriate material for discussion in various bilateral and multilateral fora under the provisions of various trade agreements, said Rinwa.
Indian pharma companies are exporting substantial quantities of bulk drugs, drug intermediates and formulations in various dosage forms to most of the countries across the globe. It is often reported that Indian exporters are subjected to various tariff and non-tariff barriers in getting marketing approvals for pharma products in various geographical destinations.
Hence DoP has urged exporters to share with it their experience about problems including regulatory and other discriminatory practices prevailing in different countries causing delays and difficulties for exports. By addressing these issues reported by the exporters, the department intends to help them overcome such delays and difficulties and boost their exports, said the joint secretary, DoP.
The Indian pharmaceutical industry has seen a decline of 8 per cent from its traditional markets in United States of America in fiscal 2017-18. US actions regarding cGMP against major pharma companies, declining drug prices with rising competition have spelled the end of the dream run for the pharma industry.
The Indian pharma export touched USD 17.25 billion in fiscal 2017-18. Rising cost of Chinese raw materials is also eating into profit margin of drug companies.
The companies exporting pharma products to price sensitive Latin American and African markets are facing pricing pressure. The government of India's move to widen list of medicines under price control has negative repercussions on exports in lower-middle-income economies. Indian exporters are being told by most of these countries to keep profit margin at par with their domestic market, said an exporter on condition of anonymity.
Besides this, India's decision to ban on manufacture and sale of certain popular drugs-- oxytocin, tramadol has serious consequences on exports. A number of countries have raised concern over efficacy of drugs banned in India, said the exporter.
|