If the disruption is prolonged, the business risks could increase.
Russia’s invasion of Ukraine has made the Indian pharmaceutical industry among the most vulnerable.
Entities linked to the industry, like fertiliser makers, are the most exposed, credit agency India Ratings and Research (Ind-Ra) stated on March 7.
“Pharma has meaningful exports to the countries in the Commonwealth of Independent States, which, coupled with the ongoing pressure on generic pricing in the US, could impact the profitability of some companies in the sector,” the agency said in a note.
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