Time for pharma to make acquisitions in US, says Sanjiv Kaul

Indian pharmas are not seized by border tax implications as risk could be high under Trump

Indian pharma exporters’ profit margins have shrunk following increased approvals for generic drugs in the US. While increasing competition has led to price erosion, consolidation of distribution channels in the US has put more pressure on pricing. Sanjiv Kaul, partner at home-grown private equity fund ChrysCapital, has spent over 40 years in Indian pharma, including a 27-year stint in leadership roles at erstwhile Ranbaxy Laboratories. He spoke to Abhineet Kumar on what he is advising to his portfolio companies, including Intas Pharmaceuticals where ChrysCapital has re-invested. Edited excerpts: 

How has the valuation of pharma companies in the US corrected in