FMCG growth to recover to double digits in fiscal 2021
An expected recovery in rural demand, coupled with steady urban demand, is set to lift revenue growth of the Rs 4.0 lakh crore fast-moving consumer goods (FMCG) sector to 10-11% in fiscal 2021, close to the levels witnessed in fiscal 2019.
Pain for big pharma as US FDA warnings double
Warning letters issued by the US Food and Drug Administration (FDA) to large Indian pharmaceutical firms1 more than doubled in the first ten months of calendar 2019 compared with 2018. This will impact about 180 abbreviated new drug applications, or 18% of the total pipeline of large drug makers, delaying new product launches, a CRISIL analysis of current regulatory actions, including adverse observations on FDA audit indicates. The US market accounts for more than a third of overall revenue of the big drug makers or Rs 55,000 crore of sales annually.