Tuesday, April 5, 2022

India’s pharmaceutical companies hope Biden will not push for ‘Made in America’ drugs


MUMBAI | NEW DELHI: India’s large generic drug makers that depend on the US for 60% of their exports revenues are hopeful that their growth opportunity in the world’s largest pharmaceuticals market will improve under a Joe Biden presidency, industry officials said.

The industry is closely watching what stance the president elect will take with regards to the generic drug industry, and hope that he would not pursue President Donald Trump‘s push for ‘made in America’ medicines.

“Obamacare (Affordable Care Act that aimed to provide affordable health insurance coverage for all US citizens) will be back in focus, which will further improve the growth opportunity for Indian pharmaceutical industry,” Dinesh Dua, chairman Pharmaceutical Export Promotion Council told ET.

Another representative of an Indian pharma lobby group said these are early days and any impact of the new administration on the industry will be seen only after January 2021.

While Trump’s stand on making drugs cheaper for Americans supported the generic industry, his rhetoric regarding passing an executive order for making drugs locally had put the Indian generic industry in a flux.

The outgoing president had in August issued an executive order, telling federal agencies involved in the procurement of essential medicines, medical countermeasures and critical inputs to “prioritise purchase of such items from domestic manufacturers to reduce the country’s dependence on foreign manufacturers”. It also urged these departments and agencies to identify vulnerabilities in the country’s supply chains for these products.





Source link

Latest Articles

Widely used chemical linked to 1,00,000 US deaths per year: Study

NEW YORK: Daily exposure to phthalates, a group of chemicals used in everything from plastic containers to makeup, may lead to approximately 100,000 deaths...

Foods to Reduce Inflammation and Strengthen the Immune System

Did you know that you can greatly reduce inflammation and boost your immune system by simply incorporating more anti-inflammatory foods and beverages into your...

Personal Selling

INTRODUCTION Early sellers and traders were not held in high esteem. The Roman word for salesman meant ‘Cheater’ and...

Building Muscle on a Vegan Diet

There are a lot of  misconceptions surrounding veganism. The notion that those who practice it are lacking in protein and therefore muscles is the...

Electrodes in brain new hope for severe cases of epilepsy

Neurosurgeons at All India Institute of Medical Sciences have devised a new technique for operating on children suffering from a severe form of epilepsy...