Indian Generic Drug Exports Rise 27%

India’s exports of generic pharmaceuticals are growing by 27% annually and in 2012 were worth more than $13 billion, according to research by the India Brand Equity Foundation, a government research agency. The global generic drugs sector is growing by about 10% annually, IBEF says. The U.S. continues to be a key market for Indian generic drug exports. Of the Abbreviated New Drug Applications (ANDAs) received in 2012 by the U.S. FDA, almost 40% were from India, IBEF found. The Indian government has introduced three schemes to support further growth of its pharmaceutical sector: a multi-billion-dollar initiative to provide public funding of 50% for public-private partnerships; tax breaks, including a 150% weighted tax deduction on any pharma R&D expenditure; and the development of 19 special economic zones to help stimulate investment in the sector.