Indian drugmakers see U.S. sales hit by delay in new approvals

November 12, 2014 1:08 AM

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MUMBAI (Reuters) - Indian drugmakers expect a slowdown in new generic drug approvals by the U.S. Food and Drug Administration (FDA) to weigh on sales in their largest market for at least two more quarters, due to an ongoing overhaul of the review process.

India's $15 billion pharmaceutical industry, which has been hit by a spate of regulatory sanctions in the past year due to concerns about production processes, supplies about 40 percent of generic and over-the-counter drugs to the United States.

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