Exports of medical drugs increased by 4 percent to $2.3 billion in the first nine months of the year compared with the same period last year, the Israel Manufacturers' Association reported on Monday. According to the report, locally manufactured drugs are exported to 120 countries. In the January to September period, exports of local drugs to the US fell by 6% to $1.71b. as exports to the European Union rose by 43% to $393m. The Manufacturers' Association added that the decline in exports to the US was a result of the erosion of prices of generic drugs sold in the US and did not represent a decline in the volume of exports.