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Sluggish growth in US, demonetisation & GST slow down pharma market

Aggregate revenues of 21 leading firms grew by 7.4% in FY2017 compared to 10.1% in FY2016, says ICRA

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Last Updated : Jul 03 2017 | 2:51 PM IST

Indian pharmaceutical industry continue to face growth challenges with aggregate growth of the industry expected to come down to single digit, according to ICRA.

The growth trajectory for Indian pharmaceutical industry is likely to be moderate on back of slowing growth from US given the relatively moderate proportion of large size drugs going off patent, increased competition leading to price erosion in high single digits to low teens, generic adoption reaching saturation levels and, regulatory overhang along with base effect catching up.

Gaurav Jain, vice president & co-head, corporate sector ratings, ICRA, said, “The growth momentum is likely to face further pressure

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