Import alerts unlikely to affect pharma exports to US: India
Ratings
Leading rating agency India Ratings & Research has said that a flurry of import alerts issued by the US Food and Drug Administration (USFDA) last year is unlikely to have a major effect on Indian pharma exports to the world’s biggest economy, supporting the outlook for the sector. The rating agency reckons that the country’s pharmaceutical industry has the potential to grow at a compounded annual growth rate of around 20 per cent over the next five years driven by robust export growth from the US which has increased its dependence on Indian pharma products. India Ratings “expects Indian pharmaceutical exports to the US to keep growing despite a spate of import alerts issued by US Food and Drug Administration (US FDA) in 2013”, the agency said. “India Ratings believes the potential for the Indian pharmaceutical industry to grow at around 20% CAGR over the next five years is intact. This is despite the agency’s expectation of an increase in US FDA inspections in line with the US’ increasing dependence on Indian pharmaceuticals and the bad press attracted by them in recent times. Export growth to the US is also likely to be robust given the large proportion of abbreviated new drug application approvals received by Indian manufacturers lately. Indian pharmaceutical manufacturing facilities registered with US FDA as on 31 March 2014 was 523, the highest for any country outside the US”, the agency added.
Leading rating agency India Ratings & Research has said that a flurry of import alerts issued by the US Food and Drug Administration (USFDA) last year is unlikely to have a major effect on Indian pharma exports to the world’s biggest economy, supporting the outlook for the sector. The rating agency reckons that the country’s pharmaceutical industry has the potential to grow at a compounded annual growth rate of around 20 per cent over the next five years driven by robust export growth from the US which has increased its dependence on Indian pharma products. India Ratings “expects Indian pharmaceutical exports to the US to keep growing despite a spate of import alerts issued by US Food and Drug Administration (US FDA) in 2013”, the agency said. “India Ratings believes the potential for the Indian pharmaceutical industry to grow at around 20% CAGR over the next five years is intact. This is despite the agency’s expectation of an increase in US FDA inspections in line with the US’ increasing dependence on Indian pharmaceuticals and the bad press attracted by them in recent times. Export growth to the US is also likely to be robust given the large proportion of abbreviated new drug application approvals received by Indian manufacturers lately. Indian pharmaceutical manufacturing facilities registered with US FDA as on 31 March 2014 was 523, the highest for any country outside the US”, the agency added.
