New Delhi, April 10 -- Indian pharmaceutical companies are expected to report muted performance for the March quarter (Q4FY26), weighed down by a decline in sales in the US market, while the domestic market is expected to have remained robust.

The end of exclusivity for the high-margin Revlimid in the US in January has led to significant price revisions and lower volumes, impacting companies that depend on the product, despite some support from rupee depreciation.

An ICICI Securities report projects companies in its coverage to post revenue growth of about 7% year-on-year, lower than about 10% in the first nine months of FY26. While domestic sales growth is expected to be strong at 13.6%, US revenue in dollar terms is projected to drop ...