Published on February 3, 2014

The significant impact of USFDA continues to dominate and distress the Indian pharma industry. After receiving a show-cause notice from USFDA the top executives of Ranbaxy are busy in explaining their part to the drug controller officers. The company has received strict warning that any further such issue of negligence of norms may result in a ban in domestic market as well.

Apart from this glitches and faults there is some good news for the industry as well. In a recent forecast by The Indian Brand Equity Foundation (IBEF) and Pharmexcil, India will retain its fiery growth in generic sector. It will help to bring down the ever plunging costs of vital life saving medicines. According to UNICEFs report India is the largest supplier of generics drug in the global arena. The year 2012-13 registered an incredible growth of 11% in pharma exports, out of this 55% was fed to the western markets. India is leading in the category of life saving drugs. Government has forecasted the exports to reach the level of 25 billion dollar by 2016. Constant support for funding in infrastructure, RnD firms and ease in tax norms has enabled the pharma sector to seek more growth and development.

The industry is aspiring to regulate its growth and come up with constant new products and advancements in technology. Their huger for growth will boost the Indian economy as well.