A lobby group representing India's largest drugmakers seeks to convince President Donald Trump that lowering drug costs for Americans is more important than bringing drug manufacturing back to the U.S., reports Bloomberg.
Here are five things to know.
1. The Indian Pharmaceutical Alliance represents 20 of the largest drug companies in India, including Sun Pharmaceutical, Dr. Reddy's Laboratories and Lupin.
2. The lobby group on Feb. 28 sent a report — obtained by Bloomberg — to the Indian government, urging it to take action against President Trump's call to boost U.S. drug manufacturing and implement a border tax on imported medications.
3. The report argues savings associated with importing cheaper generic drugs will be more beneficial to the U.S. than the amount of jobs created through manufacturing drugs in the country, according to Bloomberg.
4. The IPA is urging Indian authorities to lobby U.S. lawmakers, regulators and the media about the benefits of importing generic drugs from the country. The group also offered various solutions to potential importation challenges, like earning an exemption for generic drugs from any border tax policy enacted in the U.S. and working more closely with the Food and Drug Administration to ensure efficient manufacturing processes.
5. India is one of the world's largest exporters of generic drugs, conducting $12.5 billion of drug exports each year, according to the report. Drug manufacturing costs are up to 50 percent lower in India than in Western countries.
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