HYDERABAD: Underscoring the contribution of pharma companies based in Andhra Pradesh, chief minister N Kiran Kumar Reddy on Friday urged them to increase their exports from the current 30 per cent to 50 per cent in the next three years.Speaking at the valedictory ceremony of the fourday India-LAC Pharma Business Meet 2011, he said pharma companies have to perform irrespective of the economic slump.“Our strengths are in bulk drugs and pharma industry. You should invest a little more in research and development (R&D) activities. Going further, AP companies should target to increase contribution to total exports from 30 per cent to 50 per cent in the next three years,” he said. Meanwhile, the Union Ministry of Commerce & Industry has set a target for the pharma sector to more than double exports from the current $10.3 billion to $25 billion over the next three years.“India is the world’s largest pharmaceuticals exporter and pharma exports contribute over 4.13 per cent to the country’s total exports.We intend to increase this percentage in the near future,” said NR Munjal, chairman, Pharmexcil.He added the industry is growing higher than the global average at 17 per cent every year, while other nations are growing at about 10 and 15 per cent.Currently, there are over 150 USFDA-approved plants across the country operated by both native and multi-nationals.Bulk drugs make up 42 per cent of total exports, formulations 56 per cent and herbals and ayurveda two per cent.The US imports 22 per cent from India, Africa 16 per cent and Commonwealth of Independent states eight per cent.In all, pharma products are exported to 220 countries. Singapore, Malaysia, Vietnam, Russia, Ukraine, South Africa, Nigeria and Kenya are now the focus countries for exports, he said. Meanwhile, Reddy also presented the export performance awards on Friday. While Aurobindo Pharma bagged the outstanding exports award in platinum category, Dr Reddy’s Laboratories won the outstanding exports award for bulk drugs in gold category.
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