By Shalini Bhardwaj
New Delhi [India], September 26 (ANI):Indian Pharmaceutical Alliance has said that the US President Donald Trump’s announcement of tariffs of up to 100 per cent on imports of branded and patented pharmaceuticals starting October 1 specifically refers to patented or branded products, and not impact generic medicines.
Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said, “The executive order refers to patented / branded products supplied to the US. It is not applicable to generic medicines.”
India supplies over 45 per cent of generic and 15 per cent of biosimilar drugs, which are used in the United States.
Chairperson of the topmost Pharmaceutical company, Pharmexcil, which earns 40 – 50 per cent of its total revenues from the American market also said, “Generic drugs are not impacted”.
Namit Joshi, Chairman of Pharmexcil, said,”India has long been a cornerstone of the global supply chain for affordable, high-quality medicines, supplying nearly 47 per cent of the US’ pharmaceutical requirements, particularly in the generic drug market. The proposed 100% tariff on branded and patented pharmaceutical imports is unlikely to have an immediate impact on Indian exports, as the bulk of our contribution lies in simple generics and most large Indian companies already operate US manufacturing or repackaging units and are exploring further acquisitions.”
“Current investigations under Section 232 appear focused elsewhere and have not taken a direct call on generics. Nonetheless, it is prudent to remain prepared for future policy shifts and to build risk-mitigation strategies,” Joshi said.
“Medical Devices are not pharmaceutical; they were already taxed by the USA – this fresh round of tariffs on pharmaceuticals hopefully may not impact medical devices “, clarified Rajiv Nath, Forum Coordinator, AiMeD (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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