Short-Term Market Forecast Revised Downwards

BMI View: India's pharmaceutical market has entered a brief period of relative deterioration, primarily due to the country's economic slowdown and high inflation, which have negatively affected discretionary consumer spending. The government's inability to resolve the pervading corruption issue has paralysed parliament, delaying much-needed sector reforms, such as clarification of the foreign direct investment guidelines for drugmakers. Nevertheless, we remain positive towards India's pharmaceutical market over the medium and long term.

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