For the first time in over two decades, India’s pharma industry has barely had time to dust itself off from one crushing US FDA regulatory blow before another one was at hand. Almost all top 10-15 companies have had bans or third party audits slapped on their manufacturing plants. The collective impact has been devastating; to financials, the image of these companies and morale. The pharma index has slipped 18.3% since April last year, the first time in many years.
In the other emerging markets, which is the next big opportunity for Indian drug makers, countries like Russia and Venezuela have been battling economic crisis.