Deals announced by Sanofi and Novartis at this year’s virtual J.P. Morgan Healthcare Conference and a smattering of full-year revenue preannouncements did not mark a bumper start to the year.

Among big pharma there is a creeping realization that the effects of the coronavirus on revenues and prescriptions may linger. At smaller biotechs, it is patently obvious.

The pandemic has hit psychiatry offices hard, and the company’s management said it anticipates flat sequential revenues in Q4.

With the India business on the road to recovery and the US growth outlook muted, Torrent hopes to keep the boat steady in fiscal 2021. It also expects an order in Q3 in a patent infringement case pertaining to AstraZeneca’s Farxiga, where it and multiple Indian firms are seeking to launch generic versions.