India’s Pharma War Zone: How Delhi’s Bulk Drug Push Is Rattling China

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The heat is rising in India’s pharmaceutical backrooms. Quiet factories. Long shifts. New chemical reactors humming across Himachal, Gujarat and Telangana. Something has shifted. China, long the uncontested supplier of India’s drug ingredients, is suddenly nervous. Its prices are falling. Fast. Some slashed by 50%. This is no coincidence.