Covid-19: No near-term threat to pharma cos' credit profile'
16 Mar 2020

If the virus outbreak isn't contained over the next three months, supply disruption is likely to be far greater than that in FY17, resulting in pressures on cash flows for players. But the pressure will be less on API players. Given the low degree of backward integration, the report believes half companies may face pressures on their credit metrics. 

https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/covid-19-no-near-term-threat-to-pharma-cos-credit-profile/articleshow/74596562.cms