SME Times is powered by   
Search News
Just in:   • SpiceJet re-introduces 'Zero Change fee' offer  • 'Good' progress made at nuclear talks but issues remain: Iran  • Fiscal package may be on cards to maintain economic recovery amid Covid 2.0  • Striking taxi drivers demands unreasonable: Goa tourism body  • Govt notifies Rs 6k cr PLI scheme for AC, LED light manufacturing 
Last updated: 28 Sep, 2017  

pharmaTHMB.jpg Pharma exports to Latin America likely to be muted

india-pharma-industry.jpg
   Top Stories
» Fiscal package may be on cards to maintain economic recovery amid Covid 2.0
» FICCI writes to 25 CMs on Covid management
» Regulation of insolvent firms' shares still remains a dilemma
» ECLGS 2.0 now covers SMA-1 borrowers
» Forex reserves up by over $4 bn
SME Times News Bureau | 28 Sep, 2017
Pharmaceuticals exports to Latin American countries are likely to be "muted" and for CIS countries, the exports is expected to "improve but very weakly", an official of India Ratings & Research said on Wednesday.

"..our outlook is that as far as the LATAM (Latin America) market, it continues to be muted and as far the CIS (Commonwealth of Independent States) countries, it is expected to improve but very weakly," Ankit Bhembre of India Ratings & Research told BTVi in an interview.

He said Venezuela has been much of a concern for last two to three years.

"Exporters are reducing their exposure to Venezuela," he said, adding that some markets including Chile and Columbia with low amount of generic drugs penetrations provide opportunities.

"In terms of Russia, currency has been volatile, although there were some currency gains. Exports have slightly improved," he said.

"In the African markets, particularly the institutional markets, there have been couple of lower tenders for anti-malarial and anti-HIV for the last quarter of FY17 and first quarter of FY18. These caused a reduction in exports revenues," he said.

Weak economic and political conditions in Africa and currency volatility in Latin America (LATAM) are likely to weigh on the consumption of pharmaceutical formulations and therefore pressure medium term growth prospects for India's exporters, the agency said.

It also said in FY17, India's exports of pharmaceutical formulations or finished products to the semi-regulated markets grew at the weakest pace of 0.7 percent in the last seven years.

Bhembre, however, said moderate growth in exports to Asia and the Middle East for the near to medium term is expected.

Despite the export underperformance in FY17, the long-term underlying fundamentals of the semi-regulated markets remain intact. In the underdeveloped Africa, Latin America and Asia economies, the latent demand for the treatment of chronic diseases will boost generics uptake due to limited budgets and high out-of-pocket expenditure, he said.

Increasing drive for universal healthcare insurance in developing Asian markets and GCC countries is also likely to boost generics uptake and benefit generics players over the medium to long term, he added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 18 Apr, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Covid second wave: Lockdown or no lockdown(2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter