The US (48% of revenues) has grown at a CAGR of ~17% in FY15-18 backed by aggressive filings and product launches. Launches of authorised generics also contributed to overall growth. The US pipeline (cumulative) consists of 330 filed ANDAs, 144 pending final approvals. The USFDA cleared Moraiya in February 2017. The new Ahmedabad SEZ and Baddi facilities have also started getting approvals. We expect US sales to grow just 3% to | 6643...