Is Obesity (Drugs) Masking Underlying (Metabolic) Risk Factors in Indian Pharma?
Executive Summary
The Indian Pharmaceutical Market (IPM) entered 2026 with strong momentum, delivering approximately 11% year-on-year growth in February 2026. The narrative appears compelling: chronic therapies are expanding, volumes are stabilizing, and GLP-1 agonists are positioning India within the global specialty drug landscape.
However, beneath this momentum lies a more complex reality. This analysis presents three grounded conclusions:
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