In the first six months of this year, Sun received about five new generic drug approvals, while Dr. Reddy’s received one, according to the data. In part, the relative pace of new approvals between the companies reflects an inevitable maturation of India’s drug industry, according to PhillipCapital’s Patra. Photo: iStock imagesMumbai/New Delhi: The US Food and Drug Administration (FDA) has become something of a bogeyman for India’s stock market. Smaller companies are getting more approvals as they take over production of the simple, low-margin generic pills the larger companies built their businesses on. But even as the FDA has increased scrutiny of India, it’s been approving generic drug applications from the country’s firms at a record pace, with smaller companies like Aurobindo Pharma Ltd and Glenmark Pharmaceuticals Ltd leading the pack.

Source: Mint July 21, 2016 04:18 UTC