Pharma exports to miss target

India’s pharmaceutical exports registered slowest growth in at least 15 years at 1.2 per cent to $14.84 billion last fiscal amid growing tension with the US over intellectual property rights related issues.

As the IPR issues raised by the US — India’s biggest market — are unlikely to be resolved anytime soon, industry observers say that pharma exports will miss the target of $25 billion set for 2014-15 in a government strategy paper.

According to the Commerce Ministry data, in 2012-13, the country’s pharma exports aggregated $14.66 billion. Business Line