Medical News Today gives us an Inter Press Service analysis of the impending FTA. Specifically, the analysis addresses concerns by drug manufacturers that the FTA might slow growth in India's generic drug market. The report notes that India has a 7.5 B drug industry, is a top 5 bulk medicine producer, is among the top 20 in drug exports -- growing at 17.8% annually. Many of these exports are generic HIV anti-virals and anti-cancer drugs to developing Nations.
Exporters are concerned that several EU stipulations in the talks, if adopted, will curtail their business growth. Provisions covering counterfeit drugs, for example, would classify some generics as "restricted" and would allow their seizure in transit through EU countries. This in fact spurred a trade dispute late last year and early in 2010 - see here. The EU earlier promised to change provisions that would allow this type of seizure but apparently have not convinced everyone. India's Commerce and Industry Minister, Anand Sharma maintains talks are still underway to resolve these issues.
An agreement is supposed to be reached by the "end of August".
Posted by Bruce Lehr August 5th 2010.