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Trump 2.0 may boost Indian pharma opportunities
Industry News- Nov 21,24
Experts highlight that higher tariffs on Chinese goods might enable Indian firms to fill supply gaps in the US generic drug market, a critical region that accounts for 30% of Indian pharma sales and 40% of global volume share.
The Trump administration's potential return, with its emphasis on the ‘China Plus One’ strategy and supply chain diversification, could provide significant opportunities for Indian pharmaceutical companies. Experts highlight that higher tariffs on Chinese goods might enable Indian firms to fill supply gaps in the US generic drug market, a critical region that accounts for 30% of Indian pharma sales and 40% of global volume share.
Sujay Shetty, Global Health Industries Advisory Leader, PwC India, noted that the Trump agenda, with its focus on ‘America First’, low taxes, and inflation control, presents a mix of opportunities and challenges. Initiatives like the Biosecure Act and potential pricing pressures may require Indian companies to enhance their supply chain capabilities and navigate evolving localisation rules.
Indian pharma has already seen increased contract manufacturing opportunities from global majors.
The proposed Biosecure Act could further benefit Indian Contract Development and Manufacturing Organizations (CDMOs) by fostering strategic alliances with US-based innovators. Kinjal Shah, Senior VP, ICRA, emphasised the need for investments in regulatory compliant facilities and advanced technologies to capitalise on rising demand.
However, risks remain. A potential 10% tariff on imports to the US could negatively impact Indian pharma exporters, according to Krishnanath Munde, Associate Director, India Ratings & Research. Nonetheless, the medium-term outlook appears favourable, as the China Plus One strategy and the Biosecure Act are expected to create larger growth opportunities.
While the specifics of Trump’s second-term policies are yet to be fully outlined, key themes like trade protectionism and reduced dependence on China indicate promising prospects for India’s well-established pharmaceutical sector.
(TOI)
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