Pharma sector sales down 10-12%, pain to ease by Jan: Wockhardt

The pharmaceutical industry did suffer some set back with sales declining about 10-12 percent since demonetisation. However, Habil F Khorakiwala, Founder, Chairman & Group CEO of Wockhardt feels the impact will last only until January at the most as cash availability is improving.

Wockhardt has not received any query yet on the pricing probe by the US department of justice on alleged price collusion in the industry, he said in an interview to CNBC-TV18. A similar civil penalty case on certain dermatology drugs being sold in the US based on allegations by the New York Police Departments has also not affected the company, he says.

He expects margins to return to double-digits soon and the US market growth will also be strong, he said.Watch video for more...