Business · Companies · 1 hr ago
Indian drugmakers face mixed September-quarter outlook
India’s leading drugmakers are expected to post mixed results for the September quarter.
The outlook covers companies including Sun Pharmaceutical Industries, Aurobindo Pharma, Dr Reddy’s Laboratories, Lupin, Cipla, Torrent Pharmaceuticals and Divi’s Laboratories.
Domestic sales, specialty medicines and emerging markets are expected to support growth for some companies.
US competition and pricing pressure may weigh on some firms, along with higher raw material costs and a tough comparison with last year’s US sales.
Sun Pharma, Aurobindo, Torrent and Divi’s are expected to perform relatively strongly, while Dr Reddy’s, Lupin and Cipla may face more pressure.
Dr Reddy’s is expected to see flat revenue and lower operating profit, while Cipla’s revenue is forecast to remain nearly unchanged.
Investors will watch business trends and operational issues, including product launches, supply recovery and factory ramp-ups, as companies report their results.
India's major pharmaceutical companies are expected to report mixed results for the September quarter.
Domestic formulations, specialty products and emerging markets are expected to support growth.
Pricing pressure, generic competition, higher raw material costs and a high base in the US are expected to weigh on some companies.
Sun Pharma, Aurobindo Pharma, Torrent Pharmaceuticals and Divi's Laboratories are expected to be among the stronger performers.
Dr Reddy's Laboratories, Lupin and Cipla may face pressure from competition and the absence of high-margin opportunities seen in the previous year.
- Who
- India's leading pharmaceutical companies, including Sun Pharma, Aurobindo Pharma, Dr Reddy's Laboratories, Lupin, Cipla, Torrent Pharmaceuticals and Divi's Laboratories.
- What
- They are expected to report mixed September-quarter performance, with some companies set to outperform and others facing pressure.
- When
- The September quarter; the article was published on October 19, 2026.
- Where
- India, with company performance also affected by business in the US, Europe and other markets.
- Why
- Growth is expected to come from domestic formulations, specialty products and emerging markets, while pricing pressure, competition, higher raw material costs and a high US base may weigh on some companies.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Expected stronger performers
- Sun Pharmaceutical Industries, Aurobindo Pharma, Torrent Pharmaceuticals and Divi's Laboratories
- Expected to face pressure
- Dr Reddy's Laboratories, Lupin and Cipla
- Sun Pharma revenue growth
- High single digits
- Aurobindo Pharma EBITDA growth
- Strong double digits
- Dr Reddy's revenue
- Expected to remain flat