Monday, June 22, 2009
Pharma numbers
Businessworld
Noemie Bisserbe
The pharmaceuticals export Promotion Council (Pharmexcil), set up by the ministry of commerce, and the Federation of Indian Chambers of Commerce and Industry (Ficci) are painting two very different pictures of the state of India’s drug exports in the run-up to the budget. According to Pharmexcil’s figures, exports to the US recorded a healthy 25.1 per cent growth to Rs 6,380 crore in the 11 months ended February 2009 compared to the same period last year.
However, a Ficci study released last month says that the global economic downturn has hurt the pharma industry, and drug exports to the US fell 37 per cent to $478 million (Rs 2,307 crore) in the five months ended February 2009, compared to $756 million (Rs 3,648 crore) in the same period last year. The different time frame as well as the currencies selected for the studies could be the reason for the stark difference. Still, the contrast is startling.
Noemie Bisserbe
The pharmaceuticals export Promotion Council (Pharmexcil), set up by the ministry of commerce, and the Federation of Indian Chambers of Commerce and Industry (Ficci) are painting two very different pictures of the state of India’s drug exports in the run-up to the budget. According to Pharmexcil’s figures, exports to the US recorded a healthy 25.1 per cent growth to Rs 6,380 crore in the 11 months ended February 2009 compared to the same period last year.
However, a Ficci study released last month says that the global economic downturn has hurt the pharma industry, and drug exports to the US fell 37 per cent to $478 million (Rs 2,307 crore) in the five months ended February 2009, compared to $756 million (Rs 3,648 crore) in the same period last year. The different time frame as well as the currencies selected for the studies could be the reason for the stark difference. Still, the contrast is startling.
