Sector Faces a Transition Quarter as gRevlimid Declines and GST Impact Weigh on Growth

Sector Faces a Transition Quarter as gRevlimid Declines and GST Impact Weigh on Growth


Brokerages agree that Q2FY26 will be a soft quarter, marking a transition phase for the sector.
Key positives: Lupin’s US launches, Divi’s strong CDMO traction, and resilient India growth for Sun and Torrent.
Key concerns: gRevlimid erosion, GST-led destocking, pricing pressure, and US tariff risks.



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