Indian pharmaceutical exports to cross Rs 1 lakh crore mark

HYDERABAD: Export of pharmaceutical products from India are set to cross Rs 1 lakh crore mark this fiscal from Rs 90,000 crore during fiscal to March 2014, said director general of Pharmaceuticals Export Promotion Council ( Pharmexcil) PV Appaji.

"Pharmaceutical exports have recorded a growth of 15% this year (2013-14). The problems faced earlier by the industry are now under control. Majority of the export revenues will come from formulations," he said.

The companies which were exporting bulk drugs in the past shifted their focus to exporting formulations that accounted for 71% of total exports in 2013-14.

Appaji said US Food and Drug Administration approved 584 centres across India for exports. Of the total formulations exports, 55% were to regulated markets.