Pharma exports touch $20.40 billion

Pharmaceutical exports grew 8.2 per cent in April-December, 2023, to $20.40 billion as compared with $18.85 billion in the corresponding period of the previous financial year.

“The growth in exports in the first nine months of current financial year was driven by a double-digit growth of the US exports at 11.5 per cent, which pushed up overall exports to NAFTA (US, Canada and Mexico) by 10.4 per cent,” R Uday Bhaskar, Director-General, Pharmaceuticals Export Promotion Council (Pharmexcil) told.

Formulations continue to have the highest share in exports at about 73 per cent.

“Exports to the UK are also increasing at 20.5 per cent while the West Asia and North Africa (WANA) region has been witnessing good traction,” Bhaskar said.