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Here you will find all the research and views that we post on Equitymaster. Use the tools to customize the results to suit your preference!

















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Are injectables lucrative for Indian Pharma?

Dec 19, 2012

Equitymaster explains about Injectable segment for Generic companies

Indian pharma: A walk through 'Para IVs'

Sep 21, 2012

Equitymaster explains the importance of Para IV filings for Indian pharma companies and which are the ones that are likely to benefit from possible outcomes.

The curious case of Wockhardt - II

Jun 21, 2011

This series of 2 articles describes the fall of Wockhardt from its peak in 2008 and its current situation.

Global pharma venturing beyond the US

Jul 9, 2010

Equitymaster discusses how global pharma is venturing towards emerging markets as competition hots up and growth slows down in the US.

Pharma: A second wave of generics opportunity

Jul 2, 2010

Equitymaster discusses the huge generics opportunity that beckons Indian pharma players in the US market in the next three years.

Stellar performance of pharma in 2009

Dec 30, 2009

Pharma stocks have considerably rallied in 2009 and this article takes a look at the winners and losers during the year along with the prospects for the sector.

The next big thing for global Pharma

Oct 15, 2009

Today's article highlights the important role that branded generics are expected to play in the global pharmaceutical market and how Indian pharma will benefit from the same

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: Looking to settle

Nov 13, 2007

Since CY05, when generic companies worldwide were rocked on their heels by the substantial price erosion that they faced on their base business, the pricing pressure has not shown significant signs of receding. That said, the pricing pressure is now more brutal on new molecules losing patents than the base business, where prices have more or less stabilised.

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: The rising rupee impact

Sep 25, 2007

While the rupee has been on an appreciating trend since the beginning of 2007 reaching 40.58 levels, last week was witness to the Indian currency breaching the psychological barrier of 40 to trade at 39.80 levels.

Pharma: Hiving off R&D...

Sep 4, 2007

The introduction of the product patent law in the country has compelled domestic pharma companies to increase their focus on R&D - to counter the likely slowdown of reverse engineered products in the future.

Pharma: Europe and ROW focus

Jul 17, 2007

The high level of competition witnessed in the US generics market has propelled generic companies both in India and globally to geographically diversify in a bid to de-risk their revenue profile and sustain overall profitability.

Pharma: The year so far...

Apr 25, 2007

The Indian stockmarkets have exhibited a volatile trend from the start of the year till the present date influenced by a host of domestic and global factors. This includes global factors such as the likely slowdown in the US market, unwinding of the yen carry trade and domestic factors such as rising inflation and CRR hikes by the RBI in a bid to curb liquidity. In this scenario, the Sensex has lost marginal ground (0.1%) during the period January 2007 to April 2007. While the healthcare index l

Pharma: Besides the US....

Mar 20, 2007

While the US generics market continues to be a major focus area for most of the major Indian pharma companies, many of them are looking to de-risk their business model by increasing focus on the semi regulated markets of Asia, Russia, CIS, Central Eastern Europe and Africa. This is largely due to the fact that while the US generics market continues to be the largest in the world, increasing level of competition and brutal price erosion has led Indian pharma companies to focus on other markets to

Pharma: Going hand-in-hand...

Jan 9, 2007

The 'partnership' model for introducing patented and generic drugs has emerged as the new mantra for pharmaceutical companies in recent times. And we are not talking about only Indian pharma companies, but global pharma players as well. Increased competition, ballooning R&D budgets, regulatory policy changes and pressures to prune costs and improve profitability has meant that pharma companies worldwide have had to dig deeper and come out with strategies to sustain growth in this highly competit

Pharma: Big guns, big dreams!

Feb 13, 2006

Companies from the pharma sector posted mixed results in the recently concluded December quarter. Barring Ranbaxy, the other large-cap pharma companies showed a relatively better performance. We have included four large-caps for the purpose of analysis of the sector's performance during the December quarter. These include Ranbaxy, Dr. Reddy's, Sun Pharma and Cipla. Glaxo has been excluded as the company has yet to declare its results.

Pharma R&D: Worth investing!

Jan 6, 2005

R&D is increasingly becoming an area of focus for Indian pharma companies and most of the big players are spending about 6%-7% of their revenues on R&D activity. While this is much lower when compared to the amount spent by global pharma majors (around 12%-15% of revenues), it must be noted that since Indian companies are operating at the lower end of the value chain, they cannot afford higher R&D expenses.

Pharma sector: Traditional Vs Lifestyle

Jan 5, 2005

Indian pharmaceutical industry is different from the global pharmaceutical industry. While in the global pharma industry, lifestyle segment drugs rule the roost, anti-infectives continue to dominate the domestic market. The reason for the same is higher prevalence of infective diseases as well as lower incident of lifestyle diseases due to social structure. Let's look at the following chart.

Pharma: Opportunity looms large

Dec 30, 2004

The year 2004 was another ‘special’ year for the stock market participants, as the markets see-sawed towards their all time high levels. While almost all the sectors participated in the bull-run, pharma stocks were among the leaders, again outperforming the broader indices after the strong performance in 2003. Against 14% gains for the Sensex, the pharma index gained 20% during the year.


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