World

Pharma exports in India soar, despite cough syrup deaths

India’s pharmaceutical exports this fiscal year are set to grow nearly twice as fast as last year to hit sales of $27 billion, driven by strong US buying, a government-backed trade body told Reuters, despite deaths linked to Indian-made cough syrups.

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The robust forecast comes against the backdrop of earlier concerns from the government that last year’s deaths of dozens of children in Gambia, which the World Health Organization (WHO) linked to drugs made in India, had “adversely impacted the image of India’s pharmaceutical products across the globe.”

Two other cough syrups made in India killed 19 children in Uzbekistan around December, according to the Uzbekistan government.

India is the world’s third largest maker of drugs by volume after the United States and China, and senior pharma trade official Udaya Bhaskar said the country was too big a player for buyers to move away because of “these aberrations” in Gambia and Uzbekistan.

“As far as the Gambia and Uzbekistan incidents are concerned, if you see in terms of the image of the country, there is a dent,” Bhaskar, director general of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), told Reuters on Tuesday.

“But if you see our (April-June) exports, they have grown. We are doing very well in the US market, we are growing at more than 10 percent there. In the past four-five months, the growth in exports shows that people have not taken very, very seriously (any concerns about) the quality of Indian pharmaceuticals.”

India's pharma exports rose 3.25 percent in the year to March 31 to $25.4 billion and Bhaskar said it was set to grow by about 6.3 percent to $27 billion this fiscal year.

Sales to the United States, India’s biggest market with 30 percent of its overall pharma exports, rose 6.2 percent to $7.5 billion last fiscal year, government data show.

India’s overall pharma exports in the April-June quarter rose 5 percent to $6.58 billion.

India is seeing good overall demand for drugs for central nervous system conditions, cardiovascular and oncology, Bhaskar said.

Country visits

Pharmexcil delegations have visited countries including Nigeria, Egypt and Russia in recent months to allay any concerns about Indian drugs, he said.

“Wherever we are going, people are asking and we are clarifying,” Bhaskar said. “We are telling them our stand. We are trying our level best.”

India has denied links to the deaths in Gambia but found another company guilty of sending adulterated products to Uzbekistan and cancelled its license. The company, Marion Biotech, has denied wrongdoing.

Gambia has made it mandatory for all Indian drugs to be tested before being exported to the African country since July 1. India has since June 1 made it compulsory for all cough syrups to be tested before export.

But India’s cough syrup exports, including those made by drugmakers that follow the traditional Indian method of Ayurveda, are only about $15 million a year and exports have largely remained intact, Bhaskar said.

Apart from Gambia, no other country has asked for additional tests for Indian drugs since the deaths, he said.

“Whatever exports we are doing to countries like the US, our largest importer, they are not asking. There are so many countries we are exporting to, the UK, South Africa, Brazil or any other market. They are not asking.”

Manufacturing a drug in Europe or the United States costs more than 30 percent than in India, giving India a big advantage, he said.

“India is known for producing quality drugs at an affordable price,” he said. “That is the major advantage for India and we are enjoying that for the last 15-20 years.”

Russia sales dip

India’s exports to Russia, however, have suffered because of the Ukraine war. Sales to the country fell 4.2 percent last fiscal year to $573 million, according to government data, taking Russia to the seventh position from fourth among India’s biggest pharma importers. Russia’s share in India’s pharma exports is generally around 2.5% but has now dipped to 2.2 percent.

Since Russia invaded Ukraine on February 24 last year and until June 5 this year, India’s pharma exports to Russia fell 4.6 percent to about $691 million from the corresponding period a year earlier, a government source told Reuters.

Bhaskar said the fall could be due to a dollar shortage for Russia, its attempts to prop up the domestic market and some reluctance among big Indian companies to do too much business with it while also trading with the United States, even though there are no Western sanctions on pharma products.

Indian firm used toxic industrial-grade ingredient in cough syrup: Sources

Gambia tightens rules for Indian drugs after cough syrup deaths

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM