New Delhi: Indian pharma industry found that
it had no medicine to cure adversities that came its way in
2009 -- when it battled shipment seizures by EU authorities,
tightened US regulations, Chinese drug piracy and currency
fluctuations.
The year also witnessed Mumbai-based Sun Pharmaceutical
continue the tussle for taking over Israeli drug firm Taro,
while MNCs struck alliances with Indian companies to
capitalise on generics expertise here.
European Union custom authorities continued to seize
generic drug shipments from India, undermining the country`s
efforts to emerge as a reliable supplier of affordable
medicines globally.
There was an unprecedented rise in EU`s seizure of
shipments en-route to Latin American and African countries on
allegations of violation of intellectual property rights.
EU seized 18 such consignments and it was bad news for
India`s Rs one lakh crore pharma industry, which gets around
45 per cent of its revenue through exports.
India also found itself protesting against Chinese
selling fake `Made in India` drugs.
Africa and Latin America are major markets for India`s low
cost drugs used for treatment of diseases like HIV/AIDS,
tuberculosis and malaria and account for 25 per cent of total
pharma exports of around Rs 45,000 crore.
PTI