INTANGIBLE ASSETS IN INDIAN PHARMACEUTICALS

This study analyzed intangible asset (IA) disclosure trends and value creation impact in ten Nifty Pharma companies (2015-21). Piramal Enterprises Ltd. led in both mandatory and voluntary disclosures. While most companies showed increasing IA values their impact on value creation varied. Aurobindo Pharma and Glenmark showed significant IA impact on ROE ROIC Tobin's Q and PB ratio while Cadila Divi's and Dr. Reddy's saw impact on EVA. However IA had no significant impact on firm value for Biocon Cipla Lupin Piramal and Sun Pharma in these specific metrics. Overall IA significantly impacted profitability (ROA ROE ROIC PAT) and firm value (Tobin's Q). Suggestions include improving disclosure for Cadila and Sun Pharma boosting IA values for Divi's and Lupin and continuing IA prioritization for Aurobindo and Glenmark to maximize stakeholder value.