More sops in the offing for India's generic pharma sector
Generic medicines in India have received a new impetus with both Prime Minister Narendra Modi and Venkaiah Naidu, Vice President of India, calling on the domestic pharmaceutical industry to work towards making India an international capital of generic drugs. With the leaders hinting at a policy push towards further consolidating India’s domestic pharmaceutical industry, more grants in the form of additional PLI schemes appear to be in the offing, reports The Pharma Letter’s India correspondent.
Advocating the usage of generic medicines, both the stalwarts said, on separate occasions, that patent expiry of branded drugs is set to open up novel avenues for generic drug players.
The Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the USA and 25% of all medicine in the UK, according to government data.
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