Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Shanghai Henlius Biotech announced that PMDA of Japan approved phase 2/3 clinical trial of HLX43 for injection (an anti-PD-L1 antibody-drug conjugate) for advanced squamous non-small cell lung cancer (NSCLC).</li>
<li>Simcere Pharmaceutical announced that, SIM0613 for Injection, an antibody-drug conjugate, received the clinical trial approval in China, and is intended for commencing the clinical trial for advanced solid tumors.</li>
<li>Olympus has signed an exclusive global distribution agreement with EndoRobotics. Under this agreement, robot-assisted technologies manufactured by EndoRobotics will be distributed globally by Olympus exclusively.</li>
</ul>


Shanghai Henlius Biotech announced that PMDA of Japan approved phase 2/3 clinical trial of HLX43 for injection (an anti-PD-L1 antibody-drug conjugate) for advanced squamous non-small cell lung cancer (NSCLC).
Simcere Pharmaceutical announced that, SIM0613 for Injection, an antibody-drug conjugate, received the clinical trial approval in China, and is intended for commencing the clinical trial for advanced solid tumors.
Olympus has signed an exclusive global distribution agreement with EndoRobotics. Under this agreement, robot-assisted technologies manufactured by EndoRobotics will be distributed globally by Olympus exclusively.


APAC Healthcare Weekly (May 10) – Henlius Bio, Simcere, Olympus, Daewoong Pharma

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>
US Paracetamol prices jumped 24.6% MoM in March 2026, driven by post-Lunar New Year Chinese supply pullback, Indian facility FDA alerts &amp; surging para-aminophenol cost.</li>
<li>Indian API-heavy players like Granules India, Aurobindo, Dr. Reddy's &amp; IPCA face squeeze of input costs &amp; restricted supply of exports, compressing EBITDA when the US pharma tariff threat looms.</li>
<li>Integrated giants like Sun Pharma &amp; Cipla have buffers; pure-play API and formulation players like Granules India are most exposed. This situation is worth tracking closely heading into FY26 earnings.</li>
</ul>



US Paracetamol prices jumped 24.6% MoM in March 2026, driven by post-Lunar New Year Chinese supply pullback, Indian facility FDA alerts &amp; surging para-aminophenol cost.
Indian API-heavy players like Granules India, Aurobindo, Dr. Reddy's &amp; IPCA face squeeze of input costs &amp; restricted supply of exports, compressing EBITDA when the US pharma tariff threat looms.
Integrated giants like Sun Pharma &amp; Cipla have buffers; pure-play API and formulation players like Granules India are most exposed. This situation is worth tracking closely heading into FY26 earnings.


Paracetamol’s Supply Crisis: The Tablet Squeezing Indian Pharma Margins

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>IPM grew 11% YoY in Mar 2026, closing FY2026 at ~10% YoY growth, with Semaglutide generics launching commercially and the GLP-1 market surging more than 3.8x on a MAT basis</li>
<li>The GLP-1 genericization event is a structural inflection for anti-diabetics. Meanwhile, Jan Aushadhi's rapid expansion to ~18,000 stores poses a medium-term headwind to branded IPM volume growth.</li>
<li>Preferred picks include Torrent Pharma, Sun Pharma, Emcure and Corona. Pricing and new launches remain the primary growth levers for FY2027; volume recovery is the variable to watch.</li>
</ul>


IPM grew 11% YoY in Mar 2026, closing FY2026 at ~10% YoY growth, with Semaglutide generics launching commercially and the GLP-1 market surging more than 3.8x on a MAT basis
The GLP-1 genericization event is a structural inflection for anti-diabetics. Meanwhile, Jan Aushadhi's rapid expansion to ~18,000 stores poses a medium-term headwind to branded IPM volume growth.
Preferred picks include Torrent Pharma, Sun Pharma, Emcure and Corona. Pricing and new launches remain the primary growth levers for FY2027; volume recovery is the variable to watch.


IPM Pharma Pulse March-25: Driven by Semaglutide Generics; Low Single Digit Growth Outlook for FY27

<ul>
<li>
40,000-45,000 Indian containers stranded at sea and in transit as West Asia conflict escalates sharply.</li>
<li>Export Cargo worth USD 1-1.5 billion is at risk, per container surcharges have hit USD 3,000 - 5,000, a 3-5x jump from normal.</li>
<li>Listed exporters in rice, textiles and perishables face acute margin compression. The crises may not resolve quickly.</li>
</ul>



40,000-45,000 Indian containers stranded at sea and in transit as West Asia conflict escalates sharply.
Export Cargo worth USD 1-1.5 billion is at risk, per container surcharges have hit USD 3,000 - 5,000, a 3-5x jump from normal.
Listed exporters in rice, textiles and perishables face acute margin compression. The crises may not resolve quickly.


45,000 Indian Containers Disrupted by War: Which Indian Companies Are Most Exposed?

<ul>
<li>On March 9, 2026, a Delhi High Court Division Bench dismissed Novo Nordisk's appeal, upholding a single-judge ruling that its semaglutide species patent (IN 262697) appears vulnerable to revocation.</li>
<li>The judgment clears <a href="https://www.smartkarma.com/entities/dr-reddy-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:16406:1" rel="noopener">Dr. Reddy's Laboratories (DRRD IN)</a>'s to continue exporting semaglutide and signals an imminent generic flood on March 20, 2026, when the patent formally expires.</li>
<li>Emcure's exclusive Novo Nordisk Poviztra pact makes it India's only licensed semaglutide distributor for the innovator brand, but HC ruling simultaneously accelerates 54-brand generic entry that will compress pricing industrywide.</li>
</ul>


On March 9, 2026, a Delhi High Court Division Bench dismissed Novo Nordisk's appeal, upholding a single-judge ruling that its semaglutide species patent (IN 262697) appears vulnerable to revocation.
The judgment clears Dr. Reddy's Laboratories (DRRD IN)'s to continue exporting semaglutide and signals an imminent generic flood on March 20, 2026, when the patent formally expires.
Emcure's exclusive Novo Nordisk Poviztra pact makes it India's only licensed semaglutide distributor for the innovator brand, but HC ruling simultaneously accelerates 54-brand generic entry that will compress pricing industrywide.


Emcure Pharmaceuticals: The Delhi HC Semaglutide Ruling Changes the Game

India

Cipla Limited manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.

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Cipla Ltd (CIPLA IN)

APAC Healthcare Weekly (May 10) – Henlius Bio, Simcere, Olympus, Daewoong Pharma

Henlius Bio and Simcere got trial approval for their respective ADC candidates in Japan and China, respectively. Olympus forges exclusive global...

Tina Banerjee

Paracetamol’s Supply Crisis: The Tablet Squeezing Indian Pharma Margins

US Paracetamol prices surged 24.6% in March 2026 due to Chinese supply pullback, Indian FDA alerts, and rising costs, impacting Indian API-heavy...

Sudarshan Bhandari

IPM Pharma Pulse March-25: Driven by Semaglutide Generics; Low Single Digit Growth Outlook for FY27

IPM sees 11% YoY growth in Mar 2026, driven by Semaglutide generics and GLP-1 market surge. Jan Aushadhi's expansion poses challenge to branded...

Nimish Maheshwari

45,000 Indian Containers Disrupted by War: Which Indian Companies Are Most Exposed?

Thousands of Indian containers stranded at sea due to West Asia conflict, risking billions in export cargo and causing surcharges to skyrocket for...

Sudarshan Bhandari

Emcure Pharmaceuticals: The Delhi HC Semaglutide Ruling Changes the Game

Delhi High Court dismisses Novo Nordisk's appeal, opening the door for generic semaglutide flood in India as patent expiration nears.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

APAC Healthcare Weekly (May 10) – Henlius Bio, Simcere, Olympus, Daewoong Pharma

Henlius Bio and Simcere got trial approval for their respective ADC candidates in Japan and China, respectively. Olympus forges exclusive global...

Tina Banerjee

Paracetamol’s Supply Crisis: The Tablet Squeezing Indian Pharma Margins

​US Paracetamol prices surged 24.6% in March 2026 due to Chinese supply pullback, Indian FDA alerts, and rising costs, impacting Indian API-heavy...

Sudarshan Bhandari

IPM Pharma Pulse March-25: Driven by Semaglutide Generics; Low Single Digit Growth Outlook for FY27

​IPM sees 11% YoY growth in Mar 2026, driven by Semaglutide generics and GLP-1 market surge. Jan Aushadhi's expansion poses challenge to branded...

Nimish Maheshwari

45,000 Indian Containers Disrupted by War: Which Indian Companies Are Most Exposed?

​Thousands of Indian containers stranded at sea due to West Asia conflict, risking billions in export cargo and causing surcharges to skyrocket for...

Sudarshan Bhandari

Emcure Pharmaceuticals: The Delhi HC Semaglutide Ruling Changes the Game

​Delhi High Court dismisses Novo Nordisk's appeal, opening the door for generic semaglutide flood in India as patent expiration nears.

Sudarshan Bhandari

US Paracetamol prices surged 24.6% in March 2026 due to Chinese supply pullback, Indian FDA alerts, and rising costs, impacting Indian API-heavy...

IPM sees 11% YoY growth in Mar 2026, driven by Semaglutide generics and GLP-1 market surge. Jan Aushadhi's expansion poses challenge to branded...

Thousands of Indian containers stranded at sea due to West Asia conflict, risking billions in export cargo and causing surcharges to skyrocket for...

Delhi High Court dismisses Novo Nordisk's appeal, opening the door for generic semaglutide flood in India as patent expiration nears.