Also limited new product launches in the generics space, GST introduction and higher costs associated with regulatory compliance have hurt the sector.
The government has been engrossed more in policy making and taking resilient decisions for the concerns of the pharma industry. Recently, the government proposed to introduce a new price index for pharmaceutical products, which would serve as a benchmark for determining prices of all medicines sold in the country.
Meanwhile, pharma companies’ constant investments in R&D have enabled them to develop a basket of robust products for markets across the world. In international markets, pricing pressure on generics sold in the US has eased and this is likely to support the sector.
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Domestic pharma sales grew to Rs 10,583 crore in May 2018 from Rs 9,549 crore in the same month last year. The recent clearance by the US Food and Drug Administration to Sun Pharma’s manufacturing plant at Halol in Gujarat brings to an end a two-year import ban it had imposed on the company over quality issues. This is likely to increase sales for the company
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Source:https://economictimes.indiatimes.com/markets/stocks/news/pharma-comes-out-of-shell-its-not-more-a-bitter-pill/articleshow/64707827.cms
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