Products such as injectables and inhalers that were to give an edge to companies' US portfolio are seeing more competition
Despite a code by the Medical Council of India that prohibits gifts from pharma companies to doctors that came into effect over a decade back, the practice has continued as there is no law barring the firms from offering the largesse to doctors
Over the last decade, “data integrity” has turned out to be the most discussed and perhaps the most dreaded word for the Indian pharmaceutical companies.
"When compared with their global counterparts, Indian pharmaceutical companies have stronger financial profiles with low leverage and high coverage metrics," Moody's Vice President and Senior Analyst Kaustubh Chaubal said in a statement.
Painting a favourable picture for the Indian pharmaceutical companies, leading credit rating agency, ICRA said these companies will continue to benefit from recovery in the domestic market, strong growth potential in generics market in developed countries and increasing geographic footprint.
US-based Gilead Sciences has roped in four Indian pharmaceutical companies to develop and market three new generic HIV/AIDS drugs in over 100 countries. The drugs are currently in final stages of clinical development. CNBC-TV18's Appaji Reddem and Ashwin Mohan delve deeper.