INDIA
PRESENT BULK DRUGS CRISIS IN INDIA IS TOTALLY SELF-MADE
WILL CORONAVIRUS MAKE INDUSTRY SHARKS TO LOOK BEYOND PROFIT?
2020-03-16 12:10
-
It is now almost 45 years since the high-profile Hathi Committee recommended the urgent need for manufacturing active pharmaceutical ingredients (API) or bulk drugs in India for the country’s future health safety. The size of India’s pharmaceutical market at that time was less than Rs. 500 crore, dominated by multinational companies from the US and Europe. Time has vastly changed. India’s pharmaceutical market grew sharply over the last four decades. The production is now worth over Rs. 2,50,000 crore. And, India’s drugs export, mostly generics, in 2018-19 stood at US$ 19.13 billion or worth Rs.1,40,000crore and reached US$ 9.36 billion (Rs.70,000 crore) in 2019-20 (till October 2019). It is expected to grow by 30 per cent to reach US$ 20 billion by this year end. What did not change is India’s import dependence of APIs or bulk drugs. Only the key import sources changed — originally from western countries to a new Asian entrant, Communist China.