India, a frontrunner in export of generic medicines
It's a mind boggling figure. As per the latest reports, India
exported generic medicines worth a whopping Rs 50,000 crore. India is
the frontrunner in export of generic medicines in the world. Today, the
Indian pharmaceutical industry is one of the worlds largest and most
developed, according to union minister of state for chemicals and
fertilizers Srikanta Jena.
Today, India exports to over 200 countries which include the highly regulated markets of US, Europe, Japan and Australia. In 2008-09, India exported drugs worth around $8 billion, to US and Europe, followed by Central and Eastern Europe, Latin America and Africa.
The Indian pharmaceutical industry is today a Rs.1 lakh crore industry and has been exhibiting wonderful progress in terms of infrastructure, human resource, technology and a slew of products. It has established its foothold and has shown remarkable resilience despite all odds.
The country today ranks 3rd in terms of volume and 14th in value. The industry manufacturers bulk drugs falling in all major therapeutic groups requiring complicated manufacturing technologies. Excellent scientific and technical manpower and good work in the process development has helped the pharmaceutical industry climb the success ladder, informed Jena, further elaborating that Department of Pharmaceuticals is working with the vision to help India be one amongst the top five global pharmaceutical innovation hubs by 2020.
The investment made in this segment could help generate over 500,000 high value jobs for its youth and offers the country with low cost healthcare for chronic and life threatening ailments like malaria and tuberculosis.
Mr. Jena also informed about setting up of ‘Jan Aushadhi’ stores where unbranded quality generic medicines will made available at lower prices with the aim to bring down the healthcare costs. He also emphasized on the fact of educating people on the potency and efficacy of low cost generic medicines as opposed to branded expensive equivalent. However, these initiatives of the government need to be supported by the industry to realize the objective of reasonable healthcare for all in the country.
The state of Orissa was fifth in the country to have come up with the 'Jan Ausadhi Abhiyan', the national campaign to ensure the universal reach of generic medicines.
As per the plan, the stores will be rolled out in almost 626 district headquarter hospitals in the country and would be extended to the subdivision and block hospitals in a phase wise manner. Punjab and Rajasthan has opened around 30 stores as of now.
Today, India exports to over 200 countries which include the highly regulated markets of US, Europe, Japan and Australia. In 2008-09, India exported drugs worth around $8 billion, to US and Europe, followed by Central and Eastern Europe, Latin America and Africa.
The Indian pharmaceutical industry is today a Rs.1 lakh crore industry and has been exhibiting wonderful progress in terms of infrastructure, human resource, technology and a slew of products. It has established its foothold and has shown remarkable resilience despite all odds.
The country today ranks 3rd in terms of volume and 14th in value. The industry manufacturers bulk drugs falling in all major therapeutic groups requiring complicated manufacturing technologies. Excellent scientific and technical manpower and good work in the process development has helped the pharmaceutical industry climb the success ladder, informed Jena, further elaborating that Department of Pharmaceuticals is working with the vision to help India be one amongst the top five global pharmaceutical innovation hubs by 2020.
The investment made in this segment could help generate over 500,000 high value jobs for its youth and offers the country with low cost healthcare for chronic and life threatening ailments like malaria and tuberculosis.
Mr. Jena also informed about setting up of ‘Jan Aushadhi’ stores where unbranded quality generic medicines will made available at lower prices with the aim to bring down the healthcare costs. He also emphasized on the fact of educating people on the potency and efficacy of low cost generic medicines as opposed to branded expensive equivalent. However, these initiatives of the government need to be supported by the industry to realize the objective of reasonable healthcare for all in the country.
The state of Orissa was fifth in the country to have come up with the 'Jan Ausadhi Abhiyan', the national campaign to ensure the universal reach of generic medicines.
As per the plan, the stores will be rolled out in almost 626 district headquarter hospitals in the country and would be extended to the subdivision and block hospitals in a phase wise manner. Punjab and Rajasthan has opened around 30 stores as of now.
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