Saturday, 27 May 2017

Sun Pharma says 2018 sales may fall as U.S. market gets tougher

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India's largest drug group Sun Pharmaceutical Industries Ltd said on Friday its U.S. sales might fall this year because of pressure on drug prices, signalling tough market conditions in the United States for generic drug makers.

"The U.S. generics industry is facing rapidly changing market dynamics, (and) increased competitive intensity and customer consolidation is leading to pressure on pricing," Sun's Managing Director Dilip Shanghvi said on a call with analysts after the company reported lower than expected fourth-quarter earnings.

"We may even have a single digit decline in consolidated revenue for full-year 2018 versus full-year 2017."

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