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.
Lower commodity prices and languishing demand across consumption segments likely pared India Inc’s revenue for the second quarter on the trot in the three months ended December 31, 2019, shows a CRISIL Research estimate based on an analysis of 300 companies that account for ~60% of the market capitalisation of the National Stock Exchange (NSE), excluding banking, financial services, insurance, and oil players.
Operating margin of domestic cotton yarn spinners is expected to shrink 200-400 basis points (bps) on-year this fiscal owing to a narrowed spread between cotton and yarn prices as compared to last fiscal. Higher domestic cotton prices compared with international prices during April-October 2019, a sharp fall in exports mainly to China and Pakistan, and the resultant domestic oversupply would lead to the squeeze.
Senior Director - Marketing & Communication
+91 22 3342 3130
Media Relations Lead
+91 95 940 60612