Pharmaceutical exports are expected to maintain healthy growth over the next several years, supported by a massive wave of patent expiries. According to Pharmaceuticals Export Promotion Council (Pharmexcil) Vice-Chairman Bhavin Mehta, innovator drugs worth over $250 billion are set to go off patents by 2030.
“We are going at around 5–6 per cent (data up to September), and I think growth will be sustained because the next five years will see molecules worth almost $250 billion going off patent,” Mehta informed. He added that major global pharmaceutical players are preparing to launch generic versions of these high-value drugs in regulated markets, opening up significant export opportunities for India.
Domestic Growth and Export Opportunities to Drive Industry
In the coming years, the pharmaceutical industry will leverage two strong growth drivers:
*Domestic demand, growing at around 9–11 per cent
*Rising export opportunities from off-patent drugs
Mehta noted that both segments are performing “pretty fine.” India exported pharmaceuticals worth $30.47 billion in 2024–25, and the figure is expected to rise steadily as generics gain global traction.
Easing Concerns in the US Market
Addressing concerns about the US—India’s largest export destination—Mehta said uncertainties have eased significantly. Commitments from major multinational companies such as Eli Lilly and Pfizer to invest in the US and reduce drug prices have provided some stability.
He echoed views shared by several industry leaders. He said President Trump’s earlier warnings about increased tariffs were primarily targeted at innovator drugs, not generics. “Of the total exports we do, around $10–11 billion goes to the US, and 90 to 99 per cent is generics,” Mehta explained. He stressed that the US administration recognises the immense savings—over $300 billion—that Indian generics have delivered to American consumers. Imposing tariffs on generics, he said, would create a “death trap” by sharply increasing healthcare costs. For the next three years, Mehta believes India’s generic drug exports to the US remain “good to go.”
Strengthening Quality Assurance in Cough Syrup Exports
Mehta highlighted improvements in quality assurance following India’s decision to mandate testing of cough syrups prior to export. The move came after reports that contaminated syrups made in India had caused deaths in countries such as Gambia. “Over the last two years, we have been doing this testing…so it is well controlled and well governed,” he said. As reported by thehindubusinessline.com, Mehta added that updates to domestic Good Manufacturing Practices (GMP) will further strengthen overall product quality and bring greater confidence to global buyers.
