A new batch of medicines is on the way from India for commercial manufacturing, while the country is set to become a major exporter of generic drugs to the United States by 2019, according to a government-sponsored report.
The report, which was commissioned by the Federal Government, also highlighted how the United Nations Food and Agriculture Organisation (FAO) had projected that by 2020 the number of manufactured drugs would exceed the global pharmaceutical production capacity of 1.7 billion.
In a briefing note to the Parliament, the Food and Agricultural Organisation (Fao) said it expected the number to reach 1.9 billion in 2025, more than double the global production of 10 billion in 2019.
“The world is entering a new era in manufacturing and commercialising medicines, with more and more pharmaceuticals expected to be manufactured and distributed in the world in the next decade,” the Fao said.
“There are also indications that manufacturing of the new medicines may be in high demand globally.”
Pharmaceutical companies in the United Kingdom have also been expanding in recent years.
In the first quarter of 2021, they imported $1.3 billion worth of medicines from India, with exports increasing from $500 million in the first six months of 2021 to $2.6 billion in the year to March.