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For Indian pharma giants, European drug market is becoming more attractive than the US. The reasons include cut throat competition and the increasing price pressure which are squeezing margins of the companies in US. Already Ranbaxy and Wockhardt are selling more in Europe than in the US. In the quarter ending on March 2007, Ranbaxy laboratories recorded more revenues from Europe than the US and for Wockhardt Laboratories Europe accounted for almost 50% of the revenues. According to experts Europe presents a big growth opportunity for Indian pharma companies as the volume penetration which is about 55% in Europe, is more than the US and any other market. This can also be seen as a good risk mitigation strategy.
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