Published on March 25, 2014

Ukraine which is the second largest trading partner of India in commonwealth of Independent States after Russia. As per the recent survey organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) the protracted crises in Ukraine might have a demeanor on the domestic pharmaceutical companies. India is also noted as the second leading supplier after Canada, which supplies nearly 40% of generic and over-the-counter drugs that are supplied to US.

The total trade done by India with Ukraine in 2012-13 was USD 3.18 billion and exports of Pharmaceutical from India were USD 154 million which was 30% of total export of India to Ukraine.

In recent months, Food and Drug Administration (FDA) have banned importation of products from Ranbaxy Laboratories Ltd, Wockhardt Ltd and Sun Pharmaceutical Industries Ltd. as few US doctors have showed concern about citing quality control problems arraying from data exploitation to hygiene. USFDA also issued tentative letter of approval for generic TAMIFLU drug to NATCO Pharma which will co market drug with Alvogen in the U.S. According USFDA, due to a microbial contamination the Hyderabad based company Dr. Reddy had evoked 58,656 bottles of drugs.

According to the most recent data of the Department of Industrial Policy and Promotion, in the period of April-December 2012-13 the foreign direct investment (FDI) in drugs and pharmaceuticals was USD 589 million and during the fiscal period April-December 2013-14, FDI in Pharma sector has more than twofold to USD 1.26 billion amid concerns over escalating acquisitions of domestic firms by multinationals.