Hyderabad: Pharma export target 27 billion dollar, says Pharmexcil

Hyderabad: The Indian pharma sector, which clocked exports of US$24.6 billion in financial year 2021-22, is targeting exports of US$27.4 billion for the current financial year 2022-23, apex pharma sector body Pharmaceuticals Export Promotion Council of India said on Monday.

India houses the highest number of United States Food and Drug Administration (USFDA) approved manufacturing sites outside the US at 741 and houses 18% of global manufacturing sites catering to the US markets, supplying 29% of India's total pharma exports to the US, as per the latest data by Pharmexcil.

As part of efforts to boost the Indian pharma sector, Pharmexcil, along with the Union commerce & industry ministry and the Central Drugs Standard Control Organisation (CDSCO) is conducting the eighth edition of the three day international exhibition of pharma & healthcare (IPHEX) along with a global regulators conclave from September 21 to 23 in Noida.

Regulators from over 100 countries have been invited and those from 50 countries have already confirmed their participation.