Indian API Firms Buoyant But Big Generics Firms See US-Led Swings
Repatriation Of APIs Likely?
Leading Indian API firms are on a firm earnings footing and the evolving dynamics amid COVID-19 augur well for the segment, a new study by an Indian firm indicates, but notes that large cap generic firms in the country have seen sharp revenue growth swings over the decade.
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COVID-19 has magnified the ramifications of India’s huge dependence on China for intermediates and active pharmaceutical ingredients. A new report delves into the areas where China holds advantages and what can be done to restore India’s competitiveness in API manufacturing, notwithstanding some recent government initiatives.
The Indian Pharmaceutical Alliance is working closely with the World Health Organization and International Generic and Biosimilar Medicines Association, as well as regional off-patent industry bodies in the US and Europe, to “navigate challenges on the manufacturing and logistics front” due to the coronavirus pandemic. Meanwhile, the IPA has welcomed domestic initiatives to boost API manufacturing.
Satish Reddy, president of the Indian Pharmaceutical Alliance and chair of Dr Reddy’s Laboratories, tells Scrip in an interview that the government and domestic industry have to act promptly, and in tandem, to regain India’s glory days of dominance in active pharmaceutical ingredients and avoid a public health problem.