Recently, the President of the United States of America has released a series of executive orders that proposed the lower drug prescription prices for American citizens. However, the chances of the law affecting the Indian Pharma companies are nominal. US President, Donald Trump released four orders for the lowering of drug prices on July 25. The orders have been proposed to benefit American citizens. Moreover, a clear impact will be appearing to the countries allied with the United States of America, like Canada, India, and China.
According to the Global Business Report, India has already displayed 30-40 percent of global USFDA and 971 alternative approval for the export of drugs. Moreover, many officials in India claim the executive order would benefit the International trade and Indian pharmaceutical companies. In contrast, many officials claim the effects can be neutral or negative for the Indian pharma environment.
Nonetheless, the rise in the Indian market could increase the repurpose use of drugs that will bring more sales to the Indian pharmaceutical market. As the country has altogether developed an appropriate price of the drug, then irrespective of the circumstances, the order will benefit the Indian pharma. Says Shailesh Shah, Senior Partner and co-founder of Strta Consulting.
However, if the order displayed a negative impact on the pharmaceutical companies of India, it will be because of limited opportunities for Indian Pharma because of executive orders. A partner of Shardul Amarchand Mangaldas & Co, Mr. Arvind Sharma, believes that the laws would decrease the strength of Indian Pharmacy, which the Indian GOvernment has developed in the past few years.
However, the orders need to be cleared to get the correct analysis of the Indian pharmaceutical countries. Moreover, the rule proposed during the re-election campaign of Trump seems a bit hard to get sanctioned. But more detailed information on drugs would clear out the matter of rising or degrading the Indian pharma market.