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Indian pharmaceutical exports stood at nearly USD 29 billion up to February this financial year registering a growth of five per cent compared to the same period last year, a top official said on Saturday. K Raja Bhanu, Director General, Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) said the sector, currently valued at approximately USD 60 billion, is projected to grow to USD 130 billion by 2030. "Inspite of global challenges, pharmaceuticals exports have been one of the few sectors that has maintained its growth momentum. Pharmaceutical exports during the period AprilFebruary FY26 stood at USD 28.29 billion, reflecting a growth of 5.6 per cent compared to the same period in FY25 led by formulations, biologicals, vaccines and Ayush products," he said. The official further said the exports reached USD 30.47 billion in FY 202425, reflecting a growth of 9.4 percent year on year despite global pricing pressures and trade volatilities..
Glenmark Pharmaceuticals on Friday said its US-based unit is gearing up to introduce a generic sodium phosphates injection in the American market. The Mumbai-based drug firm said its product is therapeutically equivalent to Hosira Inc's reference listed drug. Glenmark will begin distribution of the injection in the US market in April 2026, it said in a regulatory filing. According to IQVIA, sales data for the 12-month period ending December 2025, the Sodium Phosphates Injection USP single-dose vials saw annual sales of around USD 66.8 million. Shares of the company were trading 0.82 per cent up at Rs 2,144.50 apiece on BSE.
In a move aimed at speeding up approvals for new drugs, the government has changed the way testing permissions are granted, allowing companies to begin laboratory testing immediately after filing applications instead of waiting for detailed scrutiny. In an official circular, the country's apex drug regulatory authority, Central Drugs Standard Control Organization (CDSCO), said it has decided that "No Objection Certificate (NOC) for testing of drug samples at the designated laboratories (IPC, Ghaziabad; CDTL, Mumbai; CDL at CRI, Kasauli; or NIB, Noida) shall be issued immediately upon receipt of applications in the concerned division." Earlier, the regulator examined detailed specifications submitted by applicants before issuing permission for testing. These included "Type of formulation, dosage form, Critical Quality Attributes (CQAs), and general characteristics of the product," along with "Product development reports, forced degradation studies, and other relevant data, in ...