In 2002, 20,000 registered drug manufacturers in India sold $9 billion worth of formulations and bulk drugs; 85% of these formulations were sold in India while over 60% of the bulk drugs were exported, mostly to the United States and Russia and other developed countries.
In the global market, India dominates an accountable share and is also known as pharmacy of the world and biggest generic producer & supplier. India gained the global position with its innovatively developed generic drugs and active pharmaceutical ingredients (API). India accounts for around 30 per cent (by volume) and about 10 per cent value in the US $ 70–80 billion US generics market.
export of Pharmaceutical from India stood at US$17.27 billion in 2017-18, and is expected to grow by 30 per cent to reach US$20 billion by the year 2020. India’s share in this is 40%.
The top10 countries imported 56.5% of that total are
|1||United States||$3.8 billion||32.9%|
|2||South Africa||$461.1 million||3.9%|
|4||United Kingdom||$444.9 million||3.8%|
In a nationwide survey in 2009 the drug regulatory authority of India, Central Drug Standards Control Organisation (CDSCO) announced that of “24,000 samples [that] were collected from all over India and tested.
It was found that only 0.024% were found not fit as per specifications.
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M Care is a registered pharmaceutical formulations exporter promoting more than 300 pharma companies including products of the ten MNCs:
- Sun Pharmaceutical
- Dr. Reddy’s Laboratories
- Divi’s Laboratories
- Aurobindo Pharma
- Torrent Pharmaceuticals
- Lupin Ltd
- Zydus Cadila Healthcare
- Abbott India
- Alkem Laboratories.