IIPM EDITORIAL: Anti-xenophobic pill!

Indian pharmas are now truly going global
Ask a medical practitioner what makes

him a proud Indian. Ask patients around the world why they trust Indian medicines... Ask any question to test the fundamentals of Indian drug industry and you’d suddenly find yourself amongst pharma giants, gloriously inviting the world to welcome Indian drugs! And true it is. With exports alone earning a breath-taking Rs.246 billion during 2006-07 for the pharma industry (accounting for a scintillating 30% of total revenues), the importance of exports can’t be overlooked. Also, while the sector is upbeat about its double-digit 17.5% growth in retail sales during FY2006-07 (to touch Rs.279 billion), exports reported a brisker growth of 22.2% (Draft National Pharmaceutical Policy 2006)? Surely, much attention of late has been diverted to this growth engine and with a walloping 30% growth expected this fiscal, you can only imagine the rising weight of overseas markets, well-put by Anindya Acharya, Dty. Director of CII’s Pharma Division as, “The Indian domestic market is showing single digit growth. Hence, many Indian companies have been looking at foreign markets to generate revenues.” A marked rise in M&As & licensing deal-count have proved that the Indian pharma army can fire on foreign lands as well, and well! And with appreciation in exports, India Inc. has proved its drug-selling capacity on foreign lands as well. So give it to them, what say?!