India is the world’s leading drug exporter. India’s pharmaceutical products are sold to dozens of countries including the United States, the United Kingdom, and Germany. It is also the largest importer of generic drugs in the United States.
According to relevant data, there are more than 500 FDA-approved pharmaceutical factories in India. According to the data, from 2012 to 2016, the total export value increased from 10.1 billion US dollars to 16.9 billion, with a compound annual growth rate of 13.73%. From the perspective of the proportion of exporting countries, the United States is India’s main export market for pharmaceuticals. In 2017, it accounted for 38% of India’s total exports. In 2016, pharmaceutical exports accounted for 4.9% of India’s total exports.
How much market share does Indian generics have in China?
At present, there are only over 200 Indian medicines listed in China, mainly based on raw materials. In the past two decades, only 45 Indian finished drugs have been approved in China, and none of the Indian anticancer drugs have been listed in China. India’s cross-border online shopping mall is now able to achieve smooth online shopping in China, and only India’s global pharmacy cross-border China’s online store, although their drugs are cheap, can be recognized by Chinese patients, but because of entering the Chinese market Later, the exposure is known to be small.
Before the second informal meeting between the leaders of China and India, the new Drug Administration Law can be said to have sent the first gift package to India.
On August 26, the newly revised “Drug Administration Law” was passed, and the new amendment bill removed the “import of unapproved drugs for counterfeit drugs” and replaced them with “unapproved imports of a small number of drugs that have been legally listed overseas. If it is lighter, it can be mitigated or exempted from punishment according to law.”
In the old law period, “they can’t afford to import imported high-priced drugs, they can only wait to die, or even commit suicide.” In the movie “I am not a drug god,” Cheng Yong, who played Xu Wei, said such a sentence in court.
For individuals, the new law “opens a small hole” for the purchase and use of overseas drugs. However, in the enterprise, the reform of the medical management system has made China’s second largest pharmaceutical market in the world continue to attract international pharmaceutical companies, especially the top pharmaceutical companies in India that have previously performed well in the Chinese market.
According to relevant statistics, in the past year, many Indian pharmaceutical companies including Sun Pharma, Aurobindo, Alembic, Cipla, Strides, etc. are all in China. Established a joint venture to increase investment in the Chinese market.
The Chinese generic drug market has developed rapidly in the past decade. The scale of generic drugs is nearly 500 billion RMB. There are nearly 5,000 pharmaceutical companies. The total number of approved drugs is up to 189,000, and generic drugs account for 95% of prescriptions.