After an extraordinary year that saw demand patterns and the supply chain upended by the COVID-19 pandemic, as well as a major merger that has transformed one of the global off-patent industry’s biggest players, Generics Bulletin’s Top 50 has once again seen significant changes.

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.

Ipca has struck a deal to take full ownership of US firm Bayshore Pharmaceuticals by acquiring the remaining 20% stake that it did not already own.

Indian manufacturers hope increased production of hydroxychloroquine and paracetamol, along with emergence of reliable COVID-19 therapies, will lead to export restrictions on these two medicines being removed soon. Meanwhile, they are fulfilling orders routed through the government.