Reducing Chinese API Imports Key For Indian Pharma Growth, Says IPA
IPA Lays Out ‘Vision 2030’ For Indian Pharma Sector
The Indian government has formulated policy to reduce import dependence of APIs from China. The Indian Pharmaceutical Alliance lays out ‘Vision 2030,’ that aims to make the Indian pharma sector, the “world’s largest supplier of drugs by volume.”
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As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
To ensure delivery of affordable healthcare to citizens, the Indian government’s department of pharmaceuticals has issued a notification highlighting the Production Linked Incentive Scheme that intends to boost domestic manufacturing of identified KSMs, intermediates and APIs by attracting large investments in the sector.
Japan’s Nippon Chemiphar has managed to reduce its rate of decline in pharmaceutical sales in the third quarter of FY21, on the back of well-performing recently-launched generics and group-wide structural reforms and cost reductions. The company is making no changes to its full-year forecast.