US margins under stress, Indian drug makers get booster dose in Europe

Respiratory solutions and cancer drugs are the biggest growth drivers for several companies in the Continent

 The North American market may have dragged margins for Indian pharma in 2017-18, but most of the large caps seem to have done well in terms of growth in the European countries. Aurobindo, for example, led the pack with a 33 per cent year-on-year (YoY) rise in EU sales, followed by Glenmark (27.55 per cent), Lupin (11.2 per cent) among others. 

Europe is the third-largest market for Indian drugmakers after the US and Africa. IQVIA data shows the European generics market at $35 billion is the world’s second-largest by value after the US. 

For some players such as Torrent Pharma,