The economic downturn in the US has hurt the pharmaceuticals industry worse than any other export sector in the Indian economy.
Indian exports of pharmaceuticals products to the US fell almost 40 per cent in the five months between October last year and the end of February, a study by the Federation of Indian Chambers of Commerce and Industry has shown.
Some of the drop in pharmaceuticals exports is likely to have come from the import ban imposed last year on Ranbaxy products by the US Food and Drug Administration. But executives at Indian pharmaceuticals groups say liquidity problems have also affected their industry.
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