Could Biocon Lead a Pharma Rally

Indian pharma industry saw its sunny days between 2010 and 2015 when drug patents worth $100 expired. Indian companies saw phenomenal growth due to generics exports. The Nifty pharma index went up 4x during this period while individual companies became 10 baggers and more. After this bull run, growth normalized and the sector went through a lean patch for many years. Nifty Pharma Index regained its 2015 peak only in 2021.