Last week, I reported IMS projections that India's overall market size and world ranking would decrease from number 8 to number 11 in the next couple years, largely based on slowed domestic growth rates. A new report by India Ratings & Research says that India's drug exports will be greater than its domestic sales by 2015. This is due to the relatively modest, 10.4%, growth rate internally as compared to a projected continued robust 22% rate for exports.
The report says that $92 billion in drug sales are expected to come off patent in the next few years which will continue to spawn opportunity for India's drug industry -- particularly for generics and biosimilars. India has the most US FDA approved facilities outside the US. This point may be obscured by the recent problems some India sites have been having but this report says they don't expect any material negative impact due the recent citations by FDA. Thw WHO and EU also have approved many drugs sold from India. See The Economic Times.
Posted by Bruce Lehr Feb 10th 2014.