When Dr Reddy’s was granted 180-day exclusivity for fluoxetine, the generic version of anti-depressant Prozac nearly two decades ago in 2001, it was a turning point for the Indian pharma industry. It put India firmly on the map as a serious contender in the generics game. After seeing the windfall profit that the six-month marketing exclusivity generated, Indian companies tasted blood and each of them started to build a pipeline of exclusive launches and generic drugs, and the US became the largest export market for Indian companies.
Analysts started to value the potential pipeline instead of one-time cash flows. What’s more, they wasted no time in extrapolating