Leading 25 domestic pharmaceutical companies expected to see 9-11 percent revenue growth in FY24: Icra
Icra said it foresees research and development expenses for its sample set of companies to stabilise at 6.5-7 per cent of their revenues as they will optimise spending, focusing more on complex molecules and specialty products against plain vanilla generics.
The US has always been a key market for most leading Indian pharmaceutical companies, accounting for a sizeable share of their revenues. Image Courtesy: Reuters.