Reducing Chinese API Imports Key For Indian Pharma Growth, Says IPA
IPA Lays Out ‘Vision 2030’ For Indian Pharma Sector
The Indian government has formulated policy to reduce import dependence of APIs from China. The Indian Pharmaceutical Alliance lays out ‘Vision 2030,’ that aims to make the Indian pharma sector, the “world’s largest supplier of drugs by volume.”
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Panelists discussed the issues jeopardizing generics security of supply, the potential impact of pricing changes and international best practice at a recent Politico event.
Weaknesses in the global pharmaceutical supply chain, exposed and exacerbated by the coronavirus pandemic, have led major markets to pursue localization policies aimed at bolstering domestic production capacity. But any significant transformation promises to take many years.
As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.