BIG BOOST FOR INDIAN PHARMA

The Indian Pharmaceutical Industry is in belated mood following win of Barack Obama. Generic drugs represent 65% of total prescriptions dispensed in US. Obama, who favors cost savings as key to health reforms & aims in his health plan to increase use of generics, is expected to give a big push to Indian Drug industry. Obama’s support for generics & biogenerics at 2008 shows Annual Policy Conference of Generic Pharmaceutical Association (GPhA). In 2006-07, Indian exports comprised 16% of total drugs exported to US. India has 80 US Food and Drug Administration approved plants. Indian contract manufacturing market, which estimated at $869 million in 2007, is projected to grow at a CAGR of 41% to $2.46 billion by 2010.