Pharma dealmaking recovers with PE push

Consolidation and dealmaking activity are increasing in the Indian pharma sector as multinationals’ drug portfolios thin out and Indian promoters seek exits. Rising compliance costs and pricing pressures are leading to mergers and acquisitions, with high-leverage companies cashing out. Indian strategic buyers and private equity firms like KKR and Carlyle are actively acquiring domestic assets, while large domestic players are focusing on India as a diversification from the US generics market.