Icra sees moderate growth in pharma industry

The revenue growth has been subdued for the US as well as the domestic market in the first quarter

Research and rating agency Icra said Indian pharmaceutical industry was likely to register a moderate growth on the back of slowing growth from the US, given the relatively moderate proportion of large size drugs going off patent, with increased competition leading to price erosion, generic adoption reaching saturation levels among other things.

However, aggregate revenues of Icra's sample set of 21 leading players declined by 8.8 per cent during the first quarter of the financial year 2017-18 vis-a-vis the prior year as against the December 2016-March 2017 quarter growth at 0.2 per cent.

The revenue growth has been subdued for