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Pharma Sector Sees Modest Growth Amid US Headwinds; Sun Pharma, Cipla Among ICICI Securities' Top Picks
Pharma Q2 Resulte Preview: ICICI Securities remains cautious on the near-term outlook for pharma sector citing US tariffs uncertainty, NLEM price revision in 2026.
09 Oct 2025, 10:37 AM IST 
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Profit growth of Torrent, Divi’s, Lupin, Ajanta, JB Chemicals and Pfizer could outpace peers.
(Source: Tima Miroshnichenko/ pexels)
The brokerage expects the domestic business of our coverage universe to grow at 7.5% YoY in Q2 FY26E. Inventory de-stocking, on account of GST rate on certain medicines from 12% to 5%, may have a temporary impact on the India business.
