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Mixed Q1 for top drug firms amid price erosion, tariff threat
Business Standard
|August 14, 2025
Bitter pill Q1FY26 North America formulation sales
Pricing pressure in a key cancer drug, coupled with a steep rise in March shipments to the US ahead of potential tariffs, has led to a mixed performance for top drug exporters to the US in the first quarter (Q1) of 2025-26 (FY26).
Pharmaceutical (pharma) companies like Dr Reddy's Laboratories, Cipla, and Aurobindo Pharma have posted a fall in exports to the US, primarily due to price erosion in key products. Meanwhile, Sun Pharmaceutical Industries posted a modest 1.5 per cent growth, while Zydus Lifesciences posted a 3 per cent year-on-year growth. In contrast, companies like Lupin, Torrent Pharmaceuticals, and Alembic Pharmaceuticals have posted strong double-digit growth, riding on launches in the market.
A Mumbai-based pharma analyst said, "Price erosion in generic Revlimid is one of the factors behind the fall in US revenues for some companies. Moreover, shipments to the US had grown in March as well in anticipation of potential tariffs. We don't see any systemic issues with US exports in Q1."
This story is from the August 14, 2025 edition of Business Standard.
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