Net profit of 30 major Indian drug companies drops by 38 percent in 2017


The year gone by was a difficult year for Indian pharma companies. And this had a direct impact on the profitability of India’s 30 major pharma companies. According to Pharmabiz, the (combined) net profit of 30 major Indian drug companies dropped by as much as 38 percent during April to December 2017 to US$ 1.9 billion (INR 123.13 billion), from US$ 3.06 billion (INR 198.33 billion) in the corresponding nine months of 2016.

The key reasons behind this drastic drop in profitability were US Food and Drug Administration’s (USFDA) actions against leading companies, a challenging US generic pricing environment, price cuts and stiff competition, the Pharmabiz report said.

However, the net sales of these 30 companies remained almost stagnant at US$ 19.7 billion (INR 1,274.8 billion), as against US$ 19.8 billion (INR 1,284.7 billion).

Net profits of companies like Sun Pharmaceuticals, Lupin, Dr Reddy’s Laboratories,Glenmark Pharmaceuticals, Alkem Laboratories, Torrent Pharma, Biocon, Strides Shasunand Vivimed Laboratories dropped by over 25 per cent during April to December 2017.

Among the 30 companies, Cipla, Jubilant Life Sciences, Ipca Laboratories,GlaxoSmithKline Pharma (GSK) and Hikal posted double digit growth in net profits during this period.

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