MUMBAI - For large Indian drug companies, China has been a traditional and, to an extent, a dreaded rival in the business of pharmaceutical raw materials. Gargantuan Chinese factories that cropped up in the eighties almost killed scores of Indian bulk drug manufacturing units as every pricing strategy the Indian outfits could conceive of failed to beat the quotations offered by Chinese manufacturers to global brand name companies

MUMBAI - Expanding its reach further into emerging markets for generic drugs, GlaxoSmithKline said it has reached an agreement with Dr. Reddy's Labs to develop and market select products across an extensive number of countries, except India

A rising number of enforcement actions by major drug regulators like the U.S. FDA is slowly making investors cautious about the longer term repercussions on earnings of Indian drug makers.