Export-Reliant Indian Drug Industry Faces Fall Of Rupee Value
This article was originally published in PharmAsia News
India's pharmaceutical industry is discovering it might not be as immune to the global financial crisis as previously believed. Indian pharmas normally would have been expected to continue reaping the rewards of drug exports still needed worldwide, but the value of the rupee has fallen enough to counterbalance any of those gains. Part of the negative impact is due to the fact the capital used to pay for products that India exports has to be weighed against the reduced value of the rupee. The situation means at least a temporary freeze on expansion through acquisitions and cutbacks of expenses by Indian drug makers. (Click here for more
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