India’s top pharma firms likely to see 6-8% y-o-y growth in US market revenue in FY24 versus 16% growth in FY23, says rating agency ICRA
Probable deceleration from higher regulatory scrutiny, costs from litigation and settlements, single digit erosion in product prices
Overall FY24 revenue growth seen at 7-9% y-o-y versus 10% in FY23 as domestic and non-US markets shore up income. Operating margins stable
Aurobindo, Dr. Reddy’s and Gland Pharma could benefit from likely shortages due to damage at Pfizer’s Rocky Mount injectables facility
Buyers and regulators becoming aware of a lose-lose situation as pinch of lower generics prices leads to non-compliance with quality standards, resulting in drug shortages - Strides Pharma founder, MD Arun Kumar

US Regulatory Risks, Litigation Likely To Slow FY24 Growth For India’s Top Pharma Firms, Says ICRA

Pfizer Plant Damage Presents Opportunity