Annual growth of India’s pharmaceutical exports will be less than previously expected as a result of actions by the US FDA. Exports in 2013 totaled $14.6 billion and were expected to continue their trajectory of 10% growth. However, growth for the 10 months ending in January was about 3%, with revenue reported at $12.4 billion for that time period. Growth for the year will likely be under 5%. Although exports from several large pharmaceutical manufacturers decreased as a result of not conforming to FDA regulations, other firms made up for the losses. Approximately 28% of India’s drug exports are to the US, and 18% and 17% go to the EU and Africa, respectively. India ranks third for pharmaceutical imports by volume in the US and second in the number of manufacturing plants abroad approved by the FDA.

Source: The Economic Times