Indian pharma industry estimated to grow 9 to 11 percent in FY22: ICRA
"Revenue growth for ICRA sample set is estimated at 9 to 11 per cent in FY2022 and in FY2023, supported by gradual recovery post the impact of COVID," ICRA Assistant Vice President and Sector Head Mythri Macherla said.;
New Delhi: The Indian pharma industry is estimated to grow at 9-11% in 2021-22 and in the next few quarters, it will be driven by domestic and emerging markets, according to ratings agency ICRA.
In a sample of 21 Indian pharmaceutical companies, ICRA said revenue growth was moderate at 6.4 per cent in the second quarter of FY22, down from 16 per cent in the first quarter of 2021-22.
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The normalisation of the base and pricing pressures in the US market were the major reasons for slowing growth momentum in Q2 FY22, even as growth under domestic and emerging markets remained healthy, ICRA said in a statement.
"Revenue growth for ICRA sample set is estimated at 9-11 per cent in FY2022 and in FY2023, supported by gradual recovery post the impact of COVID-19," ICRA Assistant Vice-President and Sector Head Mythri Macherla said.
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