Indian pharma gains on U.S. turmoil

U.S. pharma's troubles--coupled with a falling rupee--are boosting Indian drugmakers' fortunes. Analysts say that Big Pharma's cost-cutting wave, which has washed lots of outsourcing work toward the subcontinent, is a big plus for the Indian drugs business. Meanwhile, turmoil in the U.S. markets have weakened the rupee, which in turn has made Indian drugs less expensive in the States.

That can only be good for India's pharma companies, which rely heavily on U.S. sales for growth. And because U.S. drugmakers and financial firms aren't expected to recover quickly, analysts look to Indian drugmakers for strong revenue and earnings growth in the near term, the Wall Street Journal reports.

Two things could hold India's drug makers back, though. The rupee could appreciate, hitting companies that have been expanding their exports on the falling currency. And long term, Indian pharma needs to  make the leap to branded drugmaking in a big way, rather than remaining primarily generics makers.

- read the WSJ article

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