New Delhi, Jan. 15 -- As India's pharmaceutical sector kicks off its earnings season for the quarter ended December on Friday, analysts expect muted margins. A key reason for this is the loss of patent exclusivity for the blood cancer drug Revlimid in the US. While the Revlimid loss is expected to hit overall US sales, steady domestic growth and momentum in the base business may soften the impact.

Several Indian drugmakers, such as Dr Reddy's, Cipla, Zydus Lifesciences, and Sun Pharma, inked settlements with Revlimid's innovator, Mylan, to sell the drug in limited quantities from 2022 until its patent expiry in January 2026. The drug, clocking total global sales of over $100 billion since launch, has significantly boosted revenue and mar...