Indian Pharma: US Exposure a Key Risk, Says JPMorgan

Indian pharmaceutical companies get their money from different places.

One-third comes from selling medicine in India.

Another third comes from selling medicine in the U.S., which has some risks, like possible tariffs.

Indian companies make almost half of the generic drugs used in the U.S. The CDMO segment, where Indian companies help others make drugs, is growing.

These companies are also investing more to make better drugs and the cost might get passed on to the client.

So even if tariffs exist, it might get absorbed.