Pharma industry poised to beat FY19 exports despite strict US regulations

April-December exports rise 11.5%; estimates peg FY20 numbers at $22 billion

Indian pharmaceutical companies are set to beat 2018-19’s (FY19’s) exports this financial year, despite the strict regulatory action by the US Food and Drug Administration (USFDA), its largest market.
 
The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) shows exports clocked 11.5 per cent growth during the April to December period of 2019-20 (FY20).
 
The December quarter was particularly good for Indian pharma, clocking 14.6 per cent growth. It was a sharp improvement from the 8.69 per cent growth during the second quarter of the financial year. The March quarter is likely to witness a similar high growth