Even as Novartis (NOVN: VX) is locked in a high-stakes battle with the US Food and Drug Administration (FDA) to protect its blockbuster heart failure drug Entresto (sacubitril and valsartan) from generic competition, generic versions of valsartan are making hay in India with domestic drug manufacturers laughing all the way to the bank.
India's domestic drug industry is experiencing a gold rush as generic versions of valsartan, a key component of Entresto, flood the market. As more domestic players secure FDA approval for their valsartan formulations, their stock prices jump on the bourses, reflecting investor optimism.
Many Indian pharma players have been meticulously preparing for this moment.
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