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Indian Pharma Alliance Urges US-India Partnership for Affordable Medicine

The initiative follows a significant study by the IQVIA Institute for Human Data Science, titled "US-India Medicine Partnership: India’s Contributions to US Healthcare," emphasizing India's crucial role in the US healthcare system and the importance of the US-India relationship for enhancing the health security of both nations.

• By PharmaNews Live Desk
• New Delhi
• May 07, 2024

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Representatives from the Indian Pharmaceutical Alliance (IPA), comprising 23 leading research-based Indian generic pharma companies, gathered at DAR Museum in Washington DC, advocating for a trade partnership between the US and India to bolster the resilience of pharmaceutical supply chains and ensure affordable medicine access.

The initiative follows a significant study by the IQVIA Institute for Human Data Science, titled "US-India Medicine Partnership: India’s Contributions to US Healthcare," emphasizing India's crucial role in the US healthcare system and the importance of the US-India relationship for enhancing the health security of both nations.

Sharvil Patel, Vice President of IPA and Managing Director of Zydus Lifesciences, stressed the urgency of restoring balance and resilience in critical networks, stating, “The time has come to restore balance and build resilience in these critical networks. This is not merely prudent – it is crucial.”

Aligned with President Biden's February 2021 Executive Order on America’s supply chains, which identifies pharmaceuticals and active pharma ingredients as a supply chain risk, the proposed Affordable Medicine Partnership aims to ensure resilient, diverse, and secure supply chains to safeguard economic prosperity and national security.

According to the IQVIA Institute report, Indian firms supply 47 percent of generic prescriptions in the US, resulting in savings exceeding $1.3 trillion over the past decade. The annual savings to the US healthcare system by these companies average more than $219 billion.

Discussing the report's findings, Patel highlighted the significant contribution of Indian firms to the US healthcare system, particularly in key therapeutic areas where they account for over 50 percent of prescriptions.

Vinita Gupta, CEO of Lupin, emphasized the alignment of the trade proposal with President Biden’s executive order, India’s Production Linked Incentive Program, and the January 2024 US-India joint statement, underscoring its significance in strengthening health infrastructure crucial to mutual prosperity and security.

Gupta also emphasized the proposal’s broader implications, linking health infrastructure to national security and industrial prowess, with plans to extend the initiative to allies like the EU, UK, and Canada to foster global health resilience.

Sudarshan Jain, IPA Secretary General, concluded the session by reaffirming the commitment to collaboration and high-level engagement with the US government and Congress to advance the 'Affordable Medicine Trade Partnership.'