India's growing role in the US generic drug market: 5 things to know

Despite recent scrutiny by the Food and Drug Administration regarding India's drug manufacturing practices, the country's drug industry has grown in recent years and continues to act as a large contributor to the U.S. pharmaceutical market, according to Bloomberg.

Here are five things to know about India's drug market:

  1. Last year, the FDA issued warning letters to two of India's biggest drug companies — Sun Pharmaceutical Industries and Dr. Reddy's Laboratories — about failing to meet the agency's standards at some of its plants.

  2. Despite those warnings, the FDA has been approving drugs from Indian drugmakers at a record pace. The agency approved 83 generic drugs from the country in the second half of 2015.

  3. Generic drugs produced by Indian firms accounted for approximately 32 percent of all new U.S. drug approvals in 2015.

  4. In the first half of 2016, Sun Pharma earned five drug approvals and Dr. Reddy's Laboratories earned one. Glenmark and Aurobindo — smaller drug companies dominating the market — earned 10 and 28, respectively.

  5. On Wednesday, the FDA approved Sun Pharma, Glenmark and Aurobindo's generic versions of London-based Astrazeneca's best-selling cholesterol pill Crestor.

More articles on the drug market:

Brexit's threat to the drug industry doesn't scare Novartis
Compounded drug sales skyrocket, raise concerns over fraud
Healthcare Supply Chain Association: Generic drug competition drives down costs

 

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