India's top 20 pharma cos capex to rise by 40%: Crisil
The credit rating firm expects an increase of 40% in the Capex of India’s top 20 pharma companies.
Mumbai, August 13, 2014: The top 20 pharmaceutical companies are expected to increase the capital expenditure (Capex) by 40 per cent to over Rs 50,000 crore by FY18, according to the credit rating firm Crisil. The increase in the capex is because of a higher attention towards the US market to take advantage of the substantial patent expiries in the medium term.
The company said in a statement that it expects capex of India's top 20 pharma companies, which contribute close to two-third of India's exports, to increase 40 per cent to over Rs 50,000 crore till fiscal 2018.
Out of the top 20 companies, capex spending of the eight companies, which generate a majority of revenues domestically, is expected to double by 2018, thus growing at a much faster pace as compared to the rest of the companies in the sector.