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Pharma: The year that was…

Apr 10, 2008

FY08 was a mixed year for Indian pharma companies. While the pricing pressure in the global generics market and the sharp appreciation of the rupee kept pharma companies on their toes, most of them barring the MNC pharma companies were able to log decent growth rates as compared to the previous two years both in revenues and profitability.

Pharma: The regulatory angle...

Oct 9, 2007

Healthcare has assumed significant importance the world over and the fact that the developed nations of the world spend around 8% to 14% of the GDP on healthcare further highlights the importance of the same.

Pharma: New product introduction...

Aug 28, 2007

The introduction of the product patent law has led the Indian pharma companies to adopt a host of strategies to augment their revenue streams and sustain the pace of new product launches especially in the domestic market.

Pharma: Product patent dilemma

Aug 14, 2007

The product patent law was introduced in India on January 1, 2005 and is expected to put an end to the reverse engineering practices followed by Indian companies and prompt them to focus on discovery-led research to introduce patented molecules in the long term.

Pharma: Regulatory upsides in the making?

Jul 10, 2007

With healthcare costs accounting for a sizeable chunk of the GDP in both the developed and developing nations, little wonder then that governments across the world are under pressure to reduce these costs. For Indian pharma companies the competition has been intense in both the domestic and the global pharma market and a host of regulatory changes in recent times (especially in the European generics market) have been weighing heavy on companies having a presence in this region. In this article,

MNC Pharma: Where is it headed?

Jun 12, 2007

In terms of both the financial performance and the stock price movement, the MNC pharma companies, as compared to their domestic counterparts, seem to have gone on the backfoot. In this article, we shall analyse the reason for the same and what the future holds for these companies going forward.

Pharma: The year that was...

May 29, 2007

FY07 was a good year for the Indian pharma companies especially the domestic ones as revenues from exports picked up scale through acquisitions and better opportunity in terms of product launches in the global generics market. The performance of the MNC pharma companies, however, left a lot to be desired. In this article, we shall take a look at the overall performance of the pharma sector for FY07/CY06. We have included the 11 pharma companies under our research coverage for the purpose of the

Pharma: Towards a healthy future?

Dec 28, 2006

While the Sensex made historical highs during 2006, the performance of the BSE Healthcare Index, like in 2005, left a lot to be desired. Nothing highlights this fact more clearly than the following statistic - In the past one year, while the Sensex, albeit hiccups in May 2006, notched up nearly 44% gains, the healthcare index has under performed the benchmark managing to garner only 22%! This is despite the fact that the performance of the pharma industry in 2006 was much better than that in 200

Pharma: Partners in growth?

Apr 17, 2006

While pharma companies seem to have left the demons of the past year well behind them, challenges still abound in the global generics arena, in the domestic market and even in discovery research. And this is due to changing fundamentals and business dynamics of the sector. One is the introduction of the product patent law. The other is the increased competition and brutal price erosion in the generics market.

Pharma: Will ghosts of 2005 return?

Dec 27, 2005

The Sensex in the past one year scaled new peaks and touched the coveted 9,000 mark. The BSE Healthcare index, in the meanwhile, failed to set the pulse racing. Nothing highlights this fact more clearly than the following statistic - In the past one year, while the Sensex zoomed and notched up 44% gains, the healthcare index has significantly under performed the benchmark managing to garner a mere 2% gains!

MNC Pharma: And the performers are...

Sep 6, 2005

The first half of the year has gone by and MNC pharma companies, which largely follow a calendar year, have managed to stage a comeback after the difficult first quarter (March 2005 ending), which was plagued by VAT related issues. In this article, we compare the 1HFY06 performance of the 4 MNC pharma companies under our research coverage viz., Pfizer, Abbott India (both November ending), Glaxo and Aventis (both December ending).

Abbott: What lies ahead?

Aug 24, 2005

With the advent of the product patent law in India, Indian arms of MNC pharma companies will be in the limelight, as they will look to launch patented products from their parents’ folio. Being an MNC pharma company, Abbott also stands to gain from the same. In this article, we take a look at the company’s past performance and what lies for it in the future.

Aventis: Geared for the patent regime

Jun 17, 2005

With the advent of the patent regime in India, MNC pharma companies stand to gain a lot in terms of new product launches and consequently increased revenues. Being an MNC, Aventis is all set to exploit this opportunity. In this article, we take a look at how the company has performed over the years and what lies ahead.

GSK Pharma: Where to from here?

Jun 15, 2005

Glaxo announced disappointing 1QCY05 numbers much in line with its peers in the industry. In the following article, we take a look at how the company has performed over the years and future prospects.

Pfizer: Bright future ahead?

Jun 10, 2005

With the product patent regime now in force in India from the start of 2005, MNC pharma companies stand to gain as new product launches will spur growth for these companies in the coming years. MNC pharma major Pfizer is one of these companies. In this article, we take a look at the past performance of the company and future prospects.

Ranbaxy: What lies ahead...

Jun 3, 2005

Pharma major, Ranbaxy, has not had a great first quarter, much in line with its peers. VAT concerns and MRP based excise have led to sharp decline in domestic revenues. Its US operations too, continue to be under pressure. We take a look at its history and guage its prospects going forward.

Patent ordinance: The finer nuances

Dec 29, 2004

On December 27, 2004, The Government of India issued an ordinance relating to patents (third) amendment act. With this, India has kept its promise to become TRIPS compliant by end of this year. Let’s look at the major provisions that will have lasting effect on the industry, both domestic and exports. Let’s look at the most important features of the ordinance:

Pharma stocks: Running ahead of times

Dec 24, 2004

The markets have risen to their all time highs, and pharma is one of the sectors that have outperformed this broad rally, although marginally. In light of the structural changes taking place within the sector, both on the international and domestic fronts, increasing investor interest has been witnessed over the past few months.

Pharma: Wait and see!

Dec 13, 2004

The new patent regime is closing in the Indian pharmaceutical sector in few days from now. From January 2005, it will become applicable and Indian manufacturers will not be able to bring out generic version of patented drugs. Despite the ongoing debate concerning the implications of the patent regime, we believe that such a regime is here to stay. But it may be a refined one.

Dr Reddy’s: A volatile story

Dec 9, 2004

Dr Reddy’s has been one of the most revered domestic pharmaceutical companies. The reverence for the company is due to its vision to be a research driven company and the company has been valued more than any other in the Indian pharma sector. Dr Reddy’s has been one of the first few companies in the country to enter in NCE (new chemical entity) research and spending a large proportion of its revenue on the same. Despite these positives, the stock of the company has been ‘hammered’ in recent time


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