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Pharma exports cross $1 bn mark in December FY09

Pharma exports cross $1 bn mark in December FY09
PTI
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First Published: Sun, Apr 12 2009. 12 10 PM IST
Updated: Sun, Apr 12 2009. 12 10 PM IST
New Delhi: The exports of pharmaceutical products were valued at $1.01 billion 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% to $1.01 billion from $609 million in the same month of the previous fiscal.
The overseas sales in the first nine months of 2008-09 went up by 21% to $8.44 billion against $6.97 billion in 2007-08.
“Indian pharmaceutical sector has performed satisfactorily during April-December 2008-09 by registering a growth rate of 28.1% in rupee terms and 21% in dollar terms over the corresponding period of the previous year,” PHARMEXIL chairman Venkat Jasti said.
In rupee terms, shipments stood at Rs4,934 crore in December, while during April-December 2008 it was Rs36,877 crore, Jasti said.
“In the current economic slowdown, the 21% 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.
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First Published: Sun, Apr 12 2009. 12 10 PM IST