Dr Reddy’s chairman Satish Reddy, in an interview with CNBC-TV18, said that top international companies vacating the generic drug space will be an opportunity for large Indian firms.
Talking about pricing pressure, he said that things had stabilised. “It was almost like a massacre last year so compared to that, things are much better and definitely they are stabilising,” he said.
In terms of pricing of drugs in the US, Reddy said, “It is a very difficult issue which the US government is dealing with at this point of time. Yesterday, the House hearings also started. So about seven large big pharmaceutical companies are going to testify in front of the House committee. So I think it all depends on how the government will view it and how much of a priority they will assign to changing things. So because obviously, I think there will be some action that is what we anticipate because this whole thing has become a very contentious issue especially when it comes to the prescription original products. So there will be some action but in what form, in what kind of steps they will take is something that we have to wait and see.”