ICRA: The drug firms revenue to be in the range of 7-9 pc in the current fiscal year

ICRA: The drug firms revenue to range in the current fiscal year

On Friday, the rating agency ICRA said it expects a 7 to 0 per cent growth in some leading pharmaceuticals in the current fiscal year due to the tremendous increase in the spread of coronavirus. ICRA: The drug firms revenue to be in the range of 7-9 pc in the current fiscal year

ICRA vice president and sector head Gaurav Jain said,” Revenue growth for the sample set (21 companies) is estimated at 7-9 per cent in FY2022 and 8-11 per cent in FY2023, supported by gradual recovery post the initial impact of Covid-19.”

The vice president further added that the sample set is expected to witness a year-on-year growth of 5 to 7 per cent in US  business, 6 to 8 per cent in the domestic market formulation and 8 to 10 per cent in European business.

Jain added sensitivity to the growth of depreciation of the INR against USD/GBP/EUR in the US and European business markets was seen.

 

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