India's exports of pharmaceuticals and related products to Commonwealth of Independent States (CIS) have grown by 30.98% to about Rs 12.13 billion for the year ending March 31 2005. The higher growth of exports to this region is majorly driven by higher exports to Ukraine and Russia in absolute values. Among the various products exported to CIS countries, the exports of products belonging to the formulations sector is the highest one and constitutes near about 87.65% of the exports to this region. This is followed by the exports of bulk drugs and herbal, ayurveda and homeopathic medicines with share of about 4.76% and 4.68% respectively. The export of formulations to the countries of Russia and Ukraine is the highest among the CIS countries.
Russia accounts for 58.35% of exports
For the year ending March 31 2005, Exports to Russia accounted for about 58.35% of the total exports to the CIS countries. Out of the total exports of Rs. 7079.78 million to Russia, near about 87.15% of the exports is of products related to formulations sector. About 5% and 4.5% of the exports are related to ayurveda, herbal & homeopathic medicines and bulk drugs respectively. The next major countries of export destination for the Indian pharmaceutical and other related products are Ukraine,Kazakhstan, and Azerbaizan with shares of 25.09%, 5.27% and 3.24% respectively.
Formulations
Top 10 products constitute about 22.96% of the formulations exports to CIS countriesThe formulation exports to CIS countries during 2004-05 have grown by around 31.18% over the previous year to Rs 10634.5 million. The top 10 formulation products exported contributed about 22.96% of the formulation exports to CIS countries with the value of the exports touching Rs 2441.8 million in 2004-05.
Russia and Ukraine constitute about 91.25% of total Ayurvedic products exports
Herbal, Ayurvedic and homeopathic.- medicine exports to CIS countries during 2004-05, have grown by 8.14% to Rs 567.54 million. exports to Russia and Ukraine alone accounted for around 91.25% of total exports to CIS countries in 2004-05. The exports to Russia have declined by 3.38% in 2004-05 to Rs 368 million while the exports to Ukraine have increased by 53.43% to Rs 150 million. The markets where the exports are higher during 2004-05 are Turkmenistan, Armenia and Kyrgyzstari with the growth rales of 660.48%, 225.28% and 177.95% respectively.
Bulk Drugs
The exports to CIS countries have declined by 0.85% in 2004-05 over that of the previous year to Rs 577.31 million. The top ten bulk drugs exported to this region constitute near about 24.17% of the total exports to the CIS region. During the year, the exports of cephalexm and its salts, rifampicin and ciprofloxacin has declined to a considerable extent by 1188.68%, 583.12% and 53.98% respectively. The top ten bulk drugs exported to CIS countries are: ampicilline & its salts, diloxanide furoate, cefadroxil, rifampicin, ranitidine, metronidazole, metronidiazole benzoate, amoxycilline & its salts, ethambutol Hcl, cephalexin & its salts, ciprofloxacine & its salts.
The exports to CIS countries are expected to grow by about 35% during 2005-2006 with the value of exports likely to touch Rs 16.37 billion. Russia and Ukraine would continue to be the major export destinations for the pharmaceutical and related product exports to CIS countries, a study said.