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Sun Pharma reports first-quarter loss as generics business suffers

Reuters 

By Zeba SiddiquiREUTERS - India's largest drugmaker Sun Pharmaceutical Industries Ltd posted a surprise quarterly loss on Friday due to one-off legal costs and pressure over prices in its largest market, the United States, casting a shadow over its growth prospects.Sun is the latest maker of generic drugs to report poor sales as uncertainty grows in the global market for copycat drugs due to rising competition and pricing scrutiny in the United States. India's drugs industry, the world's fourth largest, has been hit particularly hard due also to challenges at home, where the government is ...

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First Published: Fri, August 11 2017. 23:38 IST
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