According to the Indian Drug Manufacturers Association (IDMA), the pharmaceutical industry in India has lost more than Rs 2000 crore due to the Drug Price Control Order (DPCO), which came into enforcement in July, Business Standard reported Thursday.
India's National Pharmaceutical Pricing Authority has notified the price ceilings for more than 150 of the over 340 drugs affected by the DPCO.
India's pharmaceutical market grew by 9 percent to 10 percent in the first six months of the year, compared to 15 percent for 2012.
According to the Pharmaceutical Export Promotion Council, pharmaceutical exports grew by 10.6 percent in 2012, versus growth of 23 percent in 2011.
IDMA indicated that India needs to encourage R&D and provide capital subsidies and infrastructure to help the country's pharmaceutical industry overcome the current challenges.