Indian pharma on a winning streak: exports soar

The Indian pharmaceutical industry is firing on all cylinders, with exports showing a remarkable 8% increase year-to-date and a notable 29% surge in October alone, according to the chairman of Pharmexcil, the apex body for Indian pharma exports.

The explosive growth, however, presents a few challenges which need to be countered to sustain the momentum, he added.

To maintain the upward trajectory, Dr S V Veeramani, Pharmexcil chairman, emphasized the need for drug companies to shift beyond basic generics, which have been India's traditional strength. The future lies in complex generics, specialty generics, and value-added formulations, he said, especially pharmaceuticals with higher technological complexity and therapeutic value. By venturing into these segments, Indian companies can command premium prices and further bolster their export competitiveness, he pointed out.