
In News
- Recently, the Haryana state government decided to “completely stop” the production of medicines that caused deaths in Gambia.
More about the news
- WHO Alert:
- WHO has issued a medical product alert for four contaminated medicines identified in The Gambia.
- The four medicines are cough and cold syrups produced in India.
- WHO has issued a medical product alert for four contaminated medicines identified in The Gambia.
- Issue:
- These medicines have been potentially linked to 66 deaths among children in Gambia.
- The drug has been identified as containing a significant amount of a toxin that damages kidneys irreversibly.
- India’s probe:
- The cough syrups manufactured by the pharmaceutical company was approved for export.
- It is not available for sale or marketing within the country.
- India’s drug regulator – The Drugs Controller General of India had also initiated a probe.
- The cough syrups manufactured by the pharmaceutical company was approved for export.
Indian Pharmaceutical industry
- The Pharmacy of the World:
- The Indian Pharmaceutical industry is the third largest in the world by volume.
- The Indian Pharmaceutical Industry has been using its powers very responsibly.
- It has made a name for itself and India is being called “The Pharmacy of the World” in some circles.
- The Indian Pharmaceutical industry is the third largest in the world by volume.
- Export:
- India exported pharmaceuticals worth Rs 175,040 crore in the financial year 2021-22, including Bulk Drugs/Drug Intermediates. Also, India is one of the major producers of Active Pharma Ingredients (API) or bulk drugs in the world.
- India exported Bulk Drugs/Drug Intermediates worth Rs 33,320 crore in the financial year 2021-22.
- Imports:
- However, the country also imports various Bulk Drugs/ APIs for producing medicines from various countries.
- Most of the imports of the Bulk Drug/APIs being done in the country are because of economic considerations.
- However, the country also imports various Bulk Drugs/ APIs for producing medicines from various countries.
- What is driving the growth?
- Talent pool:
- India has a huge talent pool with trained pharmaceutical professionals having degrees in B Pharmacy, D Pharmacy, M Pharmacy.
- Generic drugs:
- The ability of the pharmaceutical industry to develop generic drugs at a much-reduced price is mainly due to trained professionals in the industry.
- Manufacturing:
- India has a huge manufacturing base of pharmaceutical products giving it way more flexibility in producing generic drugs.
- India is home to 3000 drug companies and more than 10,000 manufacturing units.
Potential of the Indian Pharmaceutical Industry
- According to the Indian Economic Survey 2021, the pharmaceutical industry in India is expected to reach USD 120-130 Billion by 2030.
- Industries related to the pharmaceutical sector:
- The other industries related to the pharmaceutical sector like biopharmaceuticals, bio-services, bio-agriculture, bio-industry, and bioinformatics are likely to reach USD 150 Billion in 2025 as compared to USD 70 Billion in 2020.
- According to EY and FICCI, Innovation and R&D, Healthcare Delivery, Manufacturing & Supply Chain, and Market Access are the opportunities that will drive growth in the years to come.
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Drugs and Cosmetics Act, 1940
New Drugs, Medical Devices and Cosmetics Bill, 2022
Drugs Controller General of India
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Source: TH
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