2021 Deal Action In India: Watch Private Equity And E-Pharmacy
Pharma Deal Making Vibrant After 2020 COVID-19 Deals
Most roads led to India in 2020 when it came to deals to expand access to COVID-19 therapies, but the challenging year also saw significant private equity interest and there are expectations of more action ahead in the new year.
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India is expected to rein in the ‘unfettered’ run of e-pharmacies, a segment where top Indian conglomerates and Amazon have made strides, with pharma intertwined having tapped into these platforms. Scrip speaks to experts on areas of concern including prescription ‘workarounds’, supply chain transparency and data privacy where more oversight is called for amid the evolving regulatory landscape.
Most Indian pharma stocks, including large firms, yielded double digit negative returns over the last 12 months while the overall market (Bombay Stock Exchange Sensex) delivered positive returns, a new study by an investment banking and consulting services firm indicates. The prognosis for fiscal years 2023/24, though, is optimistic.
Early COVID-19 therapies including Gilead’s remdesivir, China-plus procurement policies, vaccine partnerships and a dovish stance by the central bank led to returns on India biotech and healthcare funds outperforming global returns. Meanwhile, funding for e-pharmacies and online consulting firms gathered pace.