Indian pharmaceuticals industry increased its US business in the first quarter and may further consolidate presence in that market, industry analysts said.
The companies are currently in a sweet spot, said Ambareesh Baliga, independent research analyst. “If you look at the Q1 earnings, most of them have come out with better than expected earnings. And as compared to earlier, most of them are US FDA (Food and Drug Administration) compliant now, and with them spending a decent portion of revenue in R&D (research and development), I believe them to be able to sustain Q1 growth going forward," Baliga said.
The US market has been facing drug supply shortages due to opaque and interrupted supply chains as quality and financial issues continue to shutter manufacturing plants, while subsidizing inventory built-up during covid subsequently eroded prices.
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