Pharmexcil worried over EU ban

The European Union's ban on 700 generic drug products, based on data integrity issues found at an Indian clinical research facility where they were subjected to bioequivalence studies, would impact exports worth at least $1 billion from India, according to Pharmaceutical Export Promotion Council of India (Pharmexcil).

While the products being manufactured and marketed directly by Indian pharmaceutical companies constitute around 30 per cent of this estimated value, the products carrying the rest of the value were being sourced by global generic players from India, the Commerce Ministry agency estimates, Indian Business Standard reported on Monday.

"We have estimated the value of the products banned by the European Union to be between $1.0-1.2 billion. These products are being sourced from India by global majors. Therefore, the EU decision impacts our pharmaceutical exports to the extent of around $1.0 billion," Pharmexcil director general P V Appaji said here today. The products marketed in Europe by the domestic players would be 30 per cent of the total value of exports impacted by the decision, he added.