The business operates within an extremely competitive environment in a highly fragmented
market with 43000+ pharmaceutical players. Despite competitive pressures and on-
going regulatory challenges, the business delivered strong growth in the year under
review and continued its leadership position in the market. Our focus lies in
strengthening our position in Tier 3 and Tier 4 towns along with expanding the product
portfolio to cater to the needs of our patients. The Generics business continues to
operate in a challenging regulatory environment with uncertain policies governing trade
margins, branded generics, DPCO and product approvals.