US Pricing Pressure Spotlights Regulatory Compliance As Key To Indian Companies’ Performance
Countering Strategies In Play
While generic drug prices continued to erode in the US during the second quarter of FY23, compliance will be key to the performance of Indian firms such as Torrent and Jubilant through the rest of the year. The US FDA has issued multiple observations in 2022, but an import alert for Glenmark’s Baddi unit is the harshest so far.
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Despite a quarter-on-quarter improvement, overall sales remain in the doldrums as Jubilant mounts a multi-pronged strategy to pull through the generics decline.
Some filling lines and API plants fared poorly in post-pandemic inspections, with shortfalls identified in sterility assurance and impurity control. Zhejiang Tianyu and System Kosmetik got warning letters. Alvotech, Cipla and Aurobindo got Form 483 reports posted on the FDA website.
Torrent’s $245m acquisition of Curatio Healthcare has moved it up a rank to No.7 in the overall Indian pharmaceutical market apart from making it the market leader in cosmetic dermatology. While it’s a pricey deal, factors like growing prevalence of skin diseases and shift towards e-commerce bode well for future revenue growth in a nascent market