US remains a powerhouse in pharmaceutical research and development. With a robust infrastructure, significant investment in biotechnology and pharmaceutical companies, along with a supportive regulatory environment, the US continues to lead the way in bringing new drugs and therapies to market. Further, the presence of leading research institutions, academic centres, and pharmaceutical companies contribute to this leadership position.
Furthermore US pharmaceutical market is not only about innovation but also provides a thriving generic drug market. Generic drugs offer cost-effective alternatives to brand-name medications, helping to reduce healthcare expenses for patients. This presents significant opportunities for Indian pharma to trade in the US, amid concerns about rising healthcare costs, said the industry.
Overall, the US-India pharmaceutical relationship is mutually beneficial. India is playing a key role in supplying affordable medications and the US providing an attractive market with a stringent regulatory environment for companies to prove their mettle. The partnership will continue to evolve with advancements in drug development and manufacturing technology, said the industry observers.
Harish K Jain, president, Federation of Pharmaceutical Entrepreneurs (FOPE) and director, Embiotic Labs, India is known as the ‘pharmacy of the world’ because it is a leading supplier of generic drugs, which are essential for affordable healthcare worldwide. The country produces a wide range of medications, from basic generics to complex formulations, and is especially prominent in producing generic versions of high-cost branded drugs. According to some estimates, Indian manufacturers provide approximately 40-50% of all generic drugs used in the US market.
India accounts for 670 US FDA approved plants which is the highest outside the US. Besides, India is also a major supplier of APIs (active pharmaceutical ingredients) to the world. Indian pharma is expanding their presence in the US market. Also every third prescription in the US is an Indian generic medication, said Jain.
Both the US and India share a strong and growing relationship in the pharma and biotech space. India has become a major player in global drug manufacturing, and the US is one of its largest and most important markets. During the Covid pandemic, when President Trump led the country it was the antibiotics and antipyretics besides vaccines among others that were exported from our pharma and biotech plants that were exported to support the critical healthcare needs, Jain pointed out.
Kiran Mazumdar-Shaw, chairperson, Biocon Group said, “I am confident that Donald Trump’s Presidency will lead to stronger ties between India and the US, unlocking the immense potential for growth and innovation, particularly in technology, energy and healthcare.
“The Indian pharma sector, with its proven track record of delivering affordable, high-quality medicines, is well placed poised to play a vital role in the US healthcare sector as the Trump campaign was resounding in its message to ‘Make America healthy again’,” she added.
“Enhanced US-India relations under Trump’s administration could create new growth avenues for the Indian IT sector, driving tech innovation and deepening engagement in America’s evolving digital landscape,” said Kiran Mazumdar Shaw.
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- Source: https://auroushealthcare.wordpress.com/2024/11/14/indian-pharma-biotech-cos-confident-of-new-us-president-trumps-support-to-indian-pharma/