Mixed Q1 results for top drug firms amid price erosion, tariff threat

Fresh launches boosted growth for players like Lupin, Torrent

Pricing pressure in a key cancer drug, coupled with a steep rise in March shipments to the US ahead of potential tariffs, has led to a mixed performance for top drug exporters to the US in the first quarter (Q1) of 2025-26 (FY26). 

Pharmaceutical (pharma) companies like Dr Reddy’s Laboratories, Cipla, and Aurobindo Pharma have posted a fall in exports to the US, primarily due to price erosion in key products. Meanwhile, Sun Pharmaceutical Industries posted a modest 1.5 per cent growth, while Zydus Lifesciences posted a 3 per cent year-on-year growth. In contrast, companies like Lupin, Torrent Pharmaceuticals, and