You'll have to dig deep. India's drug makers are poised for double-digit growth as they start exporting generic drugs to the United States, Cheong says.
Generics are drugs whose patents have expired.
The huge number of medicines patented in the 1980s will lose their trademark protection in the next few years, opening up the market for low-cost producers like Ranbaxy Laboratories and Dr. Reddy's Laboratories. But Cheong likes pharmaceuticals because they are protected from economic downturns. Whatever the state of the economy, people are going to need drugs. He says that's especially true in Japan where the population is ageing rapidly. Industry leaders like Takeda Chemical Industries and Yamanouchi Pharmaceuticals figure prominently in Kasaya's portfolio.