Domestic pharmaceutical industry to clock 4-6% growth in FY21: Icra

The domestic pharma industry has been posting slow growth numbers since March after the Covid-19 pandemic hit prescription generation

Indian pharma industry is likely to clock 4-6 per cent growth during the current fiscal, according to credit rating agency Icra.

The domestic pharma industry has been posting slow growth numbers since March after the coronavirus (Covid-19) pandemic hit prescription generation. However, green shoots started becoming visible in June when the sector clocked a 2.4 per cent growth after a near-9 per cent fall in May and an 11 per cent slump in April.

Gaurav Jain, vice president and co-head, Icra, said, “The global demand scenario is largely expected to remain stable for Indian pharmaceutical industry owing to the inelastic nature of