India's pharmaceutical exports are not expected to face a major impact following the recent announcement of a 100 per cent tariff on branded and patented pharmaceutical products by the US, said Sudarshan Jain, General Secretary of the Indian Pharmaceutical Alliance (IPA).
The Sensex and Nifty opened in red on Friday as the Nifty 50 extended its losing streak, slipping below key levels for the fifth consecutive session. The index has already given up more than half of the 1,000-point rally it had witnessed since the August 29 lows.
The demand for generic medicines in India is rising rapidly, while the sales of branded drugs are seeing a decline in sales, indicates a recent report by UBS.