As the curtains come down on calendar 2015, the pharma sector is clearly not in the best of health. Top players like Sun and Dr Reddy's came under intense scrutiny of the US drug regulator even as big-ticket deals signalled the coming of age of Indian pharma. The high point of the year was Lupin's 880 million dollar acquisition of the US-based Gavis. Meanwhile, experts say M&As will only gather steam in the new year.
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