November 9, 2020
India's large generic drug makers that depend on
the US for 60% of their exports revenues are
hopeful that their growth opportunity in the world's
largest pharmaceuticals market will improve under a
Joe Biden presidency, industry officials said.
The industry is closely watching the viewpoint
of elected president regarding the generic drug industry,
and hope that he would not pursue President Donald Trump's
push for 'made in America' medicines.
"Obamacare (Affordable Care Act aiming to provide
affordable health insurance coverage for all US citizens)
will be back in focus, which will further improve the
growth opportunity for Indian pharmaceutical industry,"
Dinesh Dua, chairman Pharmaceutical Export Promotion
Council told our sources..
Another representative of an Indian pharma lobby group
said only after January 2021, any impact of the new
administration on the industry will be seen as these
are early days. While Trump's stand on making drugs
cheaper for Americans supported the generic industry,
his rhetoric regarding passing an executive order for
making drugs locally had put the Indian generic industry
in a flux.
The outgoing president had in August issued an executive
order, telling federal agencies involved in the procurement
of essential medicines, medical countermeasures and
critical inputs to "prioritise purchase of such items
from domestic manufacturers to reduce the country's
dependence on foreign manufacturers". It also urged
these departments and agencies to identify vulnerabilities
in the country's supply chains for these products.