The recent ban on GVK Bio by the European Union (EU) is expected to hit exports from India worth $1.23 billion, according to PV Appaji, director general, Pharmaceutical Export Promotion Council of India (Pharmexil). This is for the first time that exports to EU is showing a negative growth.
The EU has banned marketing of around 700 generic medicines for alleged manipulation of clinical trials conducted by GVK Bio. GVK Bio has been conducting human trials of generic drugs on behalf of globally-operating companies.
