Indian pharma firms to benefit from rising demand in the United States
As per the India Rankings and Research, the Indian pharma firms will gain advantages from the rising need in the United States market.
According to the rating agency, these firms have earned 45% of all new Abbreviated New Drug Application (ANDA) authorizations over the last 9 months.
Furthermore, India Rankings and Research anticipate the regulative environment to remain rigid.
But, it stated that well-equipped firms would certainly be able to get benefits of a better pricing overview originating from supply lacks and recalls.
Additionally, India Rankings and Research mentioned that the Indian firms had gained a higher share of new Abbreviated New Drug Application authorizations since April 2020 led by considerable production center clearances, GDUFA-II (Generic Drug User Fee Amendments), as well as strong filing momentum assisted by historical investments in Research and Development.
India Rankings and Research have noticed an escalating need for medicines from the onset of the COVID-19 pandemic led by supply chain concerns, channel filling, and demand for the COVID-19 led precautionary items. Even in the past, there was medicine scarcity in the United States due to the exit of the big generic players
from unviable items.Total medicine scarcity in the United States is resulting in moderate-to-stable rate requirements.
Also, it pointed out that the majority of the drug recalls (91%) from the United States markets are from the non or the very least severe classification (Class-II and III recall).
Therefore, only ‘Class-I’ drug recalls are severe in nature.
India Ratings and Research is India’s most valued credit rating company dedicated to providing India’s credit markets accurate, up-to-date, and proposed credit verdicts. It’s a subsidiary of the Fitch Group, headquartered in Mumbai.
Indian pharma firms to benefit from rising demand in the United States
