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This seems to be the business that fits into framework of growth and margins coming back of a good quality business which at the least should not be ignored The US business for Indian pharma companies in Q4 FY26 is defined by three interesting shifts: a) Complexity is the new competitive weapon b) Biosimilars are becoming real revenue contributors c) The semaglutide NDA/ANDA race Indian pharmas US business has permanently graduated from har-ghar generics yojana at declining prices to complex, differentiated products at stable-to-improving economics. Before we move on, If this deep dive is the kind of analysis that gets your investing brain firing, theres more where this came from

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