After Novo Nordisk’s innovator semaglutide patent expired in end-March, over a dozen Indian firms launched generics. In April, these generics sold about ₹44 crore in total, with Torrent emerging as the fastest mover, grabbing around 38% market share. The sprint signals intensifying competition in GLP-1 diabetes and weight-management drugs.
Indian pharma and healthcare companies are entering a mixed March quarter. Hospital networks expect steady growth, supported by demand across segments. But generic drugmakers are wrestling with lost Revlimid sales and pricing pressures that weigh on performance. Analysts see pockets of strength: Lupin and Divi’s look set to do well, while Sun Pharma and Torrent show resilience. Apollo Hospitals projects strong overall traction.
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India maintains that its intellectual property rules for pharmaceuticals are WTO compliant, even as the United States continues to press for stronger protections. The dispute comes as India supplies about 20% of global generic medicines, putting generics access and the domestic industry at the center of the argument. Both sides remain locked in long-running policy differences.
Cipla has received final approval from the USFDA for its generic albuterol sulfate inhalation aerosol, a key medicine used for respiratory conditions. The clearance strengthens Cipla’s US portfolio and provides a therapeutic equivalent to a widely used branded drug, underlining its momentum in the respiratory segment.
Dr Reddy’s shares dropped about 2% after Goldman Sachs downgraded the stock and Citigroup turned cautious. Brokerages pointed to limited growth visibility, pipeline concerns, and valuation risks, alongside generics pricing pressure. Citi also flagged muted near-term opportunities in semaglutide, prompting analysts to warn that downside risks may persist despite earlier optimism.
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