Pharma cos' revenue to grow 6-8% in FY24: ICRA
Revenue growth will be driven by steady performance across key markets — the U.S. and India — and some recovery in growth in the European market.
Revenue growth will be driven by steady performance across key markets — the U.S. and India — and some recovery in growth in the European market.
Indian pharma companies have increasingly de-risked their operations by slowly and steadily increasing sales to non-US markets, says India Ratings and Research.
The domestic formulations market is expected to grow 7-9% this fiscal.
The revenue growth of about 16 leading Indian pharmaceutical companies is estimated to moderate to 6-7% in FY23, says ICRA.
Ind-Ra estimates that higher food, fertiliser and oil prices are likely to put pressure on the subsidy allocation by the Indian government.
Home-grown smaller players are giving biggies a run for their money in the US generics market.
The problems faced by FDA’s investigators in India are similar to those around the world, US Food and Drug Administration spokesperson Jeremy Kahn tells Fortune India.