As domestic sales decline, drug makers focus on exports to sustain growth

During April-July, drug makers exported products worth $ 7.4 billion, a growth of 9.5 per cent on year on year basis

Exports are helping pharmaceutical (pharma) companies sustain the growth momentum as they launch new products and tap newer markets.
 
While sales in the domestic market declined 4.2 per cent during the April-July period, exports grew steadily at 9.5 per cent during the same period.
 
“Exports to South Africa and the UK (which are the No. 2 and No. 3 markets for Indian pharma) have recovered after a decline in 2019-20. Exports to the US are growing steadily. Indian companies are also tapping new opportunities in Latin America. Earlier in the month, we signed an agreement with the state