With U.S. Generic Drug Market in Chaos, Indian Upstarts Rise
- India firms took 40% of new U.S. approvals for generics in 1H
- Aurobindo, Cadila among family-owned companies turning to U.S.
Vaccine vials move along the conveyor of a machine during inspection and screening for defects at the Serum Institute of India Ltd. pharmaceutical plant in Pune, Maharashtra, India, on Monday, May 4, 2015. Serum, Asia's largest vaccine maker, will look at a possible merger with generic drugmaker Cipla Ltd. if the European venture between the two companies succeeds.
Photographer: Sanjit Das/BloombergThe most recent earnings reports across the generic drug industry read like dispatches from the front lines of a price war, with their U.S. businesses among the biggest casualties.
This month, the world’s largest copycat drugmaker, Israel’s Teva Pharmaceutical Industries Ltd., slashed its dividend; U.S. giant Mylan NV lowered its profit target; and India’s Sun Pharmaceutical Industries Ltd. reported its first quarterly loss in at least 12 years.