Nilaya Varma, Group CEO and Co-founder, Primus Partners, shares his view on India’s emerging role in global pharma realignment. He highlights that Indian players are stepping in to fill the volume gap left by global majors like Teva, Viatris, and Sandoz, who have scaled back manufacturing over the past few years. However, the opportunity is unfolding amid a strategic pivot in the industry—US ANDA filings are down 25% year-on-year, indicating a shift toward prioritising regulatory compliance, portfolio quality, and margin protection over sheer volume.