Pharma growth to pick up in 2nd half

Companies have been under pressure after weak Q2 results and regulatory headwinds

Expectations of a gradual reduction in pricing pressure in the US market were belied as Indian pharmaceutical companies reported another quarter of muted growth. On the back of 11-12 per cent price erosion in the US market, year on year, revenues of the top generic pharma companies fell a little over 20 per cent over the year-ago quarter. The brokerages had expected some pricing pressure but the results indicate this was as severe as in the June quarter.

Barring Cadila Healthcare and Aurobindo most Indian pharma majors revenue from the US market fell, by seven to up to 46 per