ICRA forecasts 7-9% revenue growth in FY26 for the Indian pharma sector.
Strong demand in Indian domestic & European markets supports this projection.
However, the U.S. market is expected to face headwinds—regulatory, pricing, co
mpetition.
Export margins are under strain due to rising compliance costs and currency headwinds.
Specialty and biosimilar segments may help firms offset generic pressures.
Pharma stocks are likely to see differentiated performance depending on exposure.
Investors will be watching earnings guidance and FDA approvals closely.
For many firms, growth will hinge on supply chain resilience.
Long-term investors seem comfortable with moderate growth give
n sector stability.
Overall, pharma remains a key part of portfolios, though with mixed risks.