Indian Pharma Targets New Markets to Offset US Sales Decline

To protect their growth in turbidity, Indian pharmaceutical companies, especially the smaller and mid-sized players, are now swinging their attention to diversification. Within many, some are focused on identifying new export markets apart from the niching into the domestic segment to balance possible losses foreseen as a result of losing sales from the United States.

With the US now placing high tariffs on China, there are good prospects for Indian pharma companies to further look into API manufacturing, something which relies on imports. Nilesh Patel of Kashmik Formulation remarked that India was changing lifestyle trends, consequently forging therapies for non-communicable diseases (NCDs) like cardiovascular diseases and obesity.

Our company is exploring therapies for NCD segments such as cardiovascular diseases and obesity. Additionally, we are also exploring opportunities in API Pharmaceutical Ingredient (API) manufacturing, he added.

" High tariffs will ultimately raise the cost for US consumers, and while it is India’s biggest market, companies should begin branching out to regions such as the EU, Japan and the rest of the world", said Hemant Koshia, FDCA Gujarat Commissioner. Under TRS guidelines by WHO, exports could be made to 194 countries, giving a company international reach.

Pravin Patel of HOF Pharmaceuticals is targeting markets in Latin America, Africa, and Southeast Asia, where there is lower tariff imposition and an increased demand for cheap generic medicines. Also, the firm is working on products expected to lose patent protection by 2025-26, including high-value therapies such as Keytruda and Ozempic.

CORONA Remedies, on the other hand, is aggressively investing in the growing urology segment through partnerships and innovation. CEO Nirav Mehta, who is looking to this, remains optimistic because of very encouraging forecasts for markets in India's pharma sector and continued momentum.

"With an ageing population and increased prevalence of urological issues, this segment is poised for significant growth and innovation. Our urology portfolio addresses issues such as benign prostatic hyperplasia, renal calculi and urinary tract infections. We are also collaborating with Ferring Pharmaceuticals, a subsidiary of its Swiss-based namesake, to treat bedwetting", he added.