Foreign-Exchange Provisioning Masks Indian Pharma Health
This article was originally published in PharmAsia News
Stock analysts see a rosy future for India's pharmaceutical companies that saw an overall 23 percent increase in net sales during the recent quarter. Analysts see an even better quarter following as long as the rupee does not fluctuate greatly with the U.S. dollar. The leading companies suffered a hit by having to provision for foreign-exchange losses, causing some of the firms to post losses within India for the quarter. Analysts also note Indian drug makers are expected to weather a global economic slowdown because drugs are considered essential products. (Click here for more
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