Summary

After the headwinds of fiscal 2018 - caused by steep price erosion in the regulated markets and impact of Goods and Services Tax (GST) domestically - India’s pharmaceutical sector rebounded in fiscal 2019 with a revenue growth of 15%. This was driven by improved orders from the US and low-base effect.

That uptick is set to continue and the sector should see double-digit revenue growth over the next 2-3 fiscals, led by a rebound in the regulated markets, buoyant orders for bulk drugs, and rising share of chronic therapy supporting healthy domestic demand.

However, there are a few factors that need close monitoring, such as increased drug price control interventions by the government, and sharper scrutiny by the US Food and Drug Administration (FDA).

So how are Indian pharmaceutical companies placed to benefit from the opportunities?

To discuss, CRISIL is organising a webinar where its experts will present their thesis covering the following areas:

• Revenue outlook over the medium term
• Impact of government initiatives on domestic revenue
• Direction and intensity of regulatory scrutiny by the FDA
• Profitability and Research & Development expenses
• Capital expansion and credit profiles trends

The presentation will be followed by a panel discussion with industry leaders and a Q&A session.