India’s pharmaceutical exports grew a robust 10.72% in 2018-19, and raced past the $19-billion mark for the first time, a performance marked by a rebound in the U.S. market, improved show in almost all the top 25 destinations and across categories. Exports touched $19.13 billion as against $17.28 billion of 2017-18, the previous highest, details available with Pharmaceuticals Export Promotion Council of India show. Making matters challenging for exporters over the last few years has been the increased regulatory scrutiny, pressure on margins in the face of mounting competition and the need to geographically diversify the market. In the five years to 2018-19, exports had declined in one year (2016-17). Other factors such as price control in Germany, Brexit and the lockdown in the U.S. also influenced trends. Positives for the exporters were increase in the price of APIs/bulk drugs, the health regulators classifying lesser number of cases, post inspection, under the official action indicated class that sometimes led to import alerts.

(The Hindu)