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- According to the commerce ministry data,India’s pharmaceutical exports have grown by 11% to USD 19.2 billion in 2018-19.The growth was mainly driven by higher demand in regions such as North America and Europe.
- Further,the Chinese market is also gradually opening up and the Indian government is working to push India’s exports there as it holds huge potential market.
- Generic drugs form the largest segment of the Indian pharmaceutical exports with 75% market share(in terms of revenues).India supplies 20% of global generic medicines in terms of volume making the country the largest provider of generic medicines globally.
- A generic drug is a copy of drug medication created to be the same as an already marketed brand-name drug.It equals in dosage form,safety, strength,route of administration,quality,performance characteristics and intended use.
- Generics do not involve repetition of extensive clinical trials over the years,unlike brands that undergo extensive R&D procedure.Hence, generics manufacturing cost is less and so are their prices.



