Sunday, April 12, 2009
Pharma exports cross $ 1 bn mark in December FY'09
NEW DELHI: The exports of pharmaceutical products were valued at 1.01 billion dollars in December, the highest in the first nine months of 2008-09.
According to Pharmaceuticals Exports Promotion Council (PHARMEXIL), total exports in December surged by 46.3 per cent to 1.01 billion dollars from 609 million dollars in the same month of the previous fiscal.
The overseas sales in the first nine months of 2008-09 went up by 21 per cent to 8.44 billion dollars against 6.97 billion dollars in 2007-08.
"Indian pharmaceutical sector has performed satisfactorily during April-December 2008-09 by registering a growth rate of 28.1 per cent in rupee terms and 21 per cent in dollar terms over the corresponding period of the previous year," PHARMEXIL Chairman Venkat Jasti said.
In rupee terms, shipments stood at Rs 4,934 crore in December, while during April-December 2008 it was Rs 36,877 crore, Jasti said.
"In the current economic slowdown, the 21 per cent growth in dollar terms in nine months of fiscal 2008-09 was a good growth," Indian Pharmaceutical Alliance Secretary General D G Shah said.
India's main export destinations for drugs are the US, Europe, South Africa, Brazil and Canada.