Indo-US pharma alliance: Time to up the game
health security, with affordable medicines being vital for both India and the U.S., particularly in managing chronic conditions. Indian pharmaceutical companies are key to providing cost-effective and quality-assured medicines, improving outcomes, and ensuring sustainability within the U.S. healthcare system. In FY 2023-24, Indian pharma exports to the U.S. reached $8.7 billion, making it the largest market for Indian companies. For the U.S. Indian companies are supplying 47% of U.S. generic prescriptions and 15% of biosimilars.
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Further, chronic diseases drive 90% of U.S. health spending, which reached $464 billion in 2024. Indian companies contributed about $219 billion in 2022 savings to the U.S. healthcare, totaling $1.3 trillion from 2013 to 2022. The U.S. relies on a global API supply chain, with 87% of FDA-registered API plants abroad, mainly in China, which dominates production. On the other hand India, which sources 70% of its APIs from China, plays a pivotal role in addressing global dependencies through its reach of medicines.
With the new Trump administration taking charge and the expected /upcoming visit of the President Elect Trump to India for the fifth Quad summit, there are significant opportunities for both nations to strengthen collaboration in the pharmaceutical sector.
