look news india
Mumbai: A rating agency has estimated that the revenue of Indian drug manufacturers will continue to grow from the sale of medicines in the US market in the current financial year. The sale of Indian medicines will increase due to the shortage of medicines in the US.
India is a hub for bulk manufacturing of generic drugs and the US and Europe have a significant market share in the revenues of the country's major drug manufacturers.
The US, the world's largest pharmaceutical market, is currently facing the worst shortage of medicines in a decade, MIndia Ratings said in a report based on data received.
April saw shortages of 233 drugs for 22 treatments. According to data from the US Food and Drug Administration, the shortages are due to cuts in production of some drugs, increased demand and reduced supply.
Indian companies providing generic drugs in the US have shown strong financial performance in FY 2024. Reduction in raw material prices and stability in prices have resulted in good financial performance.
