The Indian pharmaceutical industry is holding on to a sliver of hope that it could become the supplier of choice for the US market.
Indian IT sector CEOs aren’t the only ones weighing every word uttered by US President Donald Trump for nuances and burning the midnight oil wondering how to maintain their lead in their largest market.
IT’s less glamorous but equally successful knowledge sector cousin, the Indian pharmaceuticals industry, is also worried about how the new US administration’s “America First” policy will impact its top and bottom lines.
Fear and opportunity
Their fear: Trump may push US Big Pharma’s agenda and push India to adopt a patent regime that blatantly privileges the profits of western companies over health concerns in the rest of the world.
But they also see a slim sliver of silver lining in Trump’s demand that US drug companies stop charging astronomical rates for medicines. The feeling is that since Indian pharma companies produce and sell generic versions of off-patent drugs at a fraction of the prices charged by Big Pharma, the US President could turn to them as suppliers if only to put pressure on his homegrown CEOs to cut prices. Login/Sign up to Read more