A technician inspects vaccine vials for defects at a pharmaceutical plant in Pune, Maharashtra. (Photographer: Sanjit Das/Bloomberg)
Ajanta Pharma Ltd. expects growth in India, Asia and U.S. to make up for the loss in business in its key market of Africa, which contributes a quarter of its revenue.Its institutional, or tender, business in Africa—under which it makes drugs on contract for governments and other institutions—is expected to either remain flat or decline by about 10 percent in the next financial year, a spokesperson for the specialty pharmaceutical mak...