The first-quarter fiscal 2021 earnings of India's Alembic Pharmaceuticals Limited and Biocon, Ltd. have reflected strong traction in the active pharmaceutical ingredients (APIs) business against the backdrop of coronavirus pandemic-related disruptions as customers stocked up to ensure business continuity.
While APIs are not the biggest contributor to the revenues of both the front-line companies, which have distinct profiles and business models, momentum in the segment is notable amid the pandemic as customers strive to lower single-source dependency for some of these starting materials
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