Facts for Prelims (FFP)
Source: TH
Context: Drugmakers have been given an extension until August 1st to implement the Track and Trace system for the export of pharmaceutical consignments.
- The extension was granted due to difficulties faced by members of the pharma exporter body Pharmexcil in joining the system.
About the system:
The system was designed to address counterfeit and product recall issues and has been in the works for eight years. It is based on traceability and barcodes on the packaging, which can help identify the source and prevent sabotage. The system covers secondary and tertiary packaging initially, with primary packaging to be included at a later stage.
Status of India in Pharmacy:
- India’s pharmaceutical exports rose more than 3% to about $25 billion (FY23) but have missed the $27 billion target.
- India produces about 60 per cent of global vaccines and 70 per cent of the World Health Organisation’s vaccines for essential immunisation schemes.
- India is the world’s third-largest pharmaceutical producer and is considered a ‘pharmacy to the world’.
- It is the largest provider of generic drugs
