Indian generic firms see US opportunity

The new federal administration in the USA led by President-elect Barack Obama is viewed by the Indian generic pharmaceutical sector as a significant market opportunity. Given the new impetus to achieving greater health insurance coverage, which will require considerable resources, one area that seems likely to be targeted for savings is prescription drugs.

Data for 2006-2007 indicates that India already supplies 16% of all US imported medicines. There are also 80 US Food and Drug Administration-approved manufacturing sites in India which, according to the local Financial Express, is the largest number of Good Manufacturing Practices plants outside the USA.

Glenn Saldanha, chief executive of Glenmark Pharmaceuticals, told the Financial Express that "the [US] Democrats' election manifesto talks of various initiatives to boost consumption of generic drugs."