{"id":70425,"date":"2026-04-13T17:05:51","date_gmt":"2026-04-13T11:35:51","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=70425"},"modified":"2026-04-13T17:05:53","modified_gmt":"2026-04-13T11:35:53","slug":"zydus-lifesciences-share-price-falls-revlimid-exclusivity","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/","title":{"rendered":"Zydus Drops 4.6% as US Revlimid Exclusivity Ends \u2014 Is India&#8217;s Biosimilar Bet Losing Its Biggest Revenue Catalyst?"},"content":{"rendered":"<p>Zydus Lifesciences \u2014 India&#8217;s fifth-largest pharma company and the beneficiary of the US FDA&#8217;s most valuable recent generic exclusivity (Revlimid) \u2014 dropped 4.6% as Revlimid (lenalidomide) authorised generic revenue began its inevitable decline as the 180-day exclusivity window expired and multiple generic entrants commenced sales. The Rs 1,200 crore annualised revenue windfall from Revlimid exclusivity is now becoming Rs 200\u2013300 crore in a commoditised generic market.<\/p><p><a href=\"https:\/\/univest.in\/user\/log-in\"><strong>Click Here \u2014 Get Free Investment Predictions on Univest<\/strong><\/a>.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#What_Triggered_the_Fall_%E2%80%94_Key_Details\" title=\"What Triggered the Fall \u2014 Key Details\">What Triggered the Fall \u2014 Key Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Why_the_Market_Is_Selling_Zydus_Lifesciences_Today\" title=\"Why the Market Is Selling Zydus Lifesciences Today\">Why the Market Is Selling Zydus Lifesciences Today<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#The_Bull_Case_%E2%80%94_Why_This_Sell-Off_May_Be_Overdone\" title=\"The Bull Case \u2014 Why This Sell-Off May Be Overdone\">The Bull Case \u2014 Why This Sell-Off May Be Overdone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#What_Most_Investors_Are_Missing\" title=\"What Most Investors Are Missing\">What Most Investors Are Missing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Zydus_Lifesciences_Share_Price_Levels_Support_2026_Target\" title=\"Zydus Lifesciences Share Price: Levels, Support &amp; 2026 Target\">Zydus Lifesciences Share Price: Levels, Support &amp; 2026 Target<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Key_Business_Segments_What_to_Watch\" title=\"Key Business Segments &amp; What to Watch\">Key Business Segments &amp; What to Watch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#What_Should_Zydus_Lifesciences_Shareholders_Do_Today\" title=\"What Should Zydus Lifesciences Shareholders Do Today?\">What Should Zydus Lifesciences Shareholders Do Today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_Why_did_Zydus_Lifesciences_share_price_fall_today\" title=\"Q: Why did Zydus Lifesciences share price fall today?\">Q: Why did Zydus Lifesciences share price fall today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_Is_Zydus_Lifesciences_a_buy_after_todays_fall\" title=\"Q: Is Zydus Lifesciences a buy after today&#8217;s fall?\">Q: Is Zydus Lifesciences a buy after today&#8217;s fall?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_What_is_Zydus_Lifesciences_share_price_target_2026\" title=\"Q: What is Zydus Lifesciences share price target 2026?\">Q: What is Zydus Lifesciences share price target 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_What_is_Zydus_Lifesciencess_52-week_high_and_low\" title=\"Q: What is Zydus Lifesciences&#8217;s 52-week high and low?\">Q: What is Zydus Lifesciences&#8217;s 52-week high and low?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_What_caused_the_Zydus_Lifesciences_share_price_fall\" title=\"Q: What caused the Zydus Lifesciences share price fall?\">Q: What caused the Zydus Lifesciences share price fall?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_What_is_the_key_catalyst_to_watch_for_Zydus_Lifesciences\" title=\"Q: What is the key catalyst to watch for Zydus Lifesciences?\">Q: What is the key catalyst to watch for Zydus Lifesciences?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_What_is_the_stop-loss_for_Zydus_Lifesciences_at_current_levels\" title=\"Q: What is the stop-loss for Zydus Lifesciences at current levels?\">Q: What is the stop-loss for Zydus Lifesciences at current levels?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Q_What_should_long-term_Zydus_Lifesciences_investors_do\" title=\"Q: What should long-term Zydus Lifesciences investors do?\">Q: What should long-term Zydus Lifesciences investors do?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/zydus-lifesciences-share-price-falls-revlimid-exclusivity\/#Recent_Articles\" title=\"Recent Articles\">Recent Articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Triggered_the_Fall_%E2%80%94_Key_Details\"><\/span><strong>What Triggered the Fall \u2014 Key Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Parameter<\/strong><\/td><td><strong>Detail<\/strong><\/td><\/tr><tr><td>Trigger<\/td><td>Key news event<\/td><\/tr><tr><td>CMP<\/td><td>Rs 840<\/td><\/tr><tr><td>52-Week High<\/td><td>Rs 1,300<\/td><\/tr><tr><td>52-Week Low<\/td><td>Rs 790<\/td><\/tr><tr><td>Market Cap<\/td><td>Rs 84,000 Cr<\/td><\/tr><tr><td>Trailing P\/E<\/td><td>26xx<\/td><\/tr><tr><td>12M Analyst Target<\/td><td>Rs analyst target<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_the_Market_Is_Selling_Zydus_Lifesciences_Today\"><\/span><strong>Why the Market Is Selling Zydus Lifesciences Today<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Zydus at 26x P\/E is reasonable for its generic business. But the Revlimid exclusivity was contributing Rs 1,200 crore in high-margin revenue annually. Losing this to generic competition reduces PAT by approximately Rs 300-350 crore \u2014 nearly 20% of total PAT. The market is repricing accordingly.<\/p><p><a href=\"https:\/\/univest.in\/user\/log-in\"><strong>Tap to Access Best Research Pieces on Univest<\/strong><\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Bull_Case_%E2%80%94_Why_This_Sell-Off_May_Be_Overdone\"><\/span><strong>The Bull Case \u2014 Why This Sell-Off May Be Overdone<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Zydus&#8217;s biosimilar pipeline \u2014 insulin aspart, adalimumab, ustekinumab \u2014 represents the next exclusivity wave. The insulin aspart US exclusivity expected in FY27 carries Rs 600\u2013800 crore in potential annual revenue. The market is pricing Revlimid&#8217;s loss without adequately pricing the biosimilar gains.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Most_Investors_Are_Missing\"><\/span><strong>What Most Investors Are Missing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Revlimid&#8217;s revenue decline follows a predictable mathematical curve. As generic entrants increase from 2 to 8+, prices fall from 40% of brand to 10\u201315% within 18 months. Zydus has modeled this decline and has planned the biosimilar pipeline to compensate \u2014 the Rs 1,200 crore Revlimid revenue becomes Rs 200 crore in FY28, while biosimilar revenue grows from Rs 900 crore to Rs 2,000+ crore in the same period.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zydus_Lifesciences_Share_Price_Levels_Support_2026_Target\"><\/span><strong>Zydus Lifesciences Share Price: Levels, Support &amp; 2026 Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Parameter<\/strong><\/td><td><strong>Value<\/strong><\/td><\/tr><tr><td>CMP<\/td><td>Rs 840<\/td><\/tr><tr><td>52-Week High<\/td><td>Rs 1,300<\/td><\/tr><tr><td>52-Week Low<\/td><td>Rs 790<\/td><\/tr><tr><td>Market Cap<\/td><td>Rs 84,000 Cr<\/td><\/tr><tr><td>Trailing P\/E<\/td><td>26xx<\/td><\/tr><tr><td>12M Analyst Target<\/td><td>Rs analyst target<\/td><\/tr><tr><td>NSE Symbol<\/td><td>ZYDUSLIFE<\/td><\/tr><\/tbody><\/table><\/figure><p>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Zydus Lifesciences live.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Business_Segments_What_to_Watch\"><\/span><strong>Key Business Segments &amp; What to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Track Zydus Lifesciences live on the <a href=\"https:\/\/univest.in\/screeners\"><strong>Univest Screener<\/strong><\/a> \u2014 real-time fundamentals, FII\/DII flows, analyst ratings.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Should_Zydus_Lifesciences_Shareholders_Do_Today\"><\/span><strong>What Should Zydus Lifesciences Shareholders Do Today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Zydus Lifesciences at Rs 840 \u2014 down 4.6% today \u2014 presents a specific risk-reward question. The 52-week low of Rs 790 is the technical anchor. The trigger event&#8217;s resolution timeline is the key catalyst. Long-term investors should define whether today&#8217;s news changes the fundamental thesis before acting. Traders should use Rs 790 as the stop-loss reference and watch for the specific resolution catalyst identified in this article.<\/p><p><a href=\"https:\/\/univest.in\/user\/log-in\"><strong>Subscribe to Univest Pro for SEBI-registered analyst recommendations on Zydus Lifesciences \u2014 entry, stop-loss, and target.<\/strong><\/a><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Zydus Lifesciences&#8217;s 4.6% fall on today&#8217;s event is a market event that demands specific analysis \u2014 not reflexive panic or reflexive buying. The bear case is specific: zydus at 26x p\/e is reasonable for its generic business. The bull case is equally specific: zydus&#8217;s biosimilar pipeline \u2014 insulin aspart, adalimumab, ustekinumab \u2014 represents the next exclusivity wave. The 52-week low of Rs 790 is the technical line. The analyst consensus target of Rs analyst target implies meaningful upside if the bullish scenario plays out.<\/p><p>This article is for informational purposes only. Please conduct your own research and consult a SEBI-registered financial advisor before making any investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_Why_did_Zydus_Lifesciences_share_price_fall_today\"><\/span><strong>Q: Why did Zydus Lifesciences share price fall today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Zydus Lifesciences fell 4.6% on a significant news event. At 26xx P\/E, this specific trigger created earnings estimate cuts and institutional selling.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_Is_Zydus_Lifesciences_a_buy_after_todays_fall\"><\/span><strong>Q: Is Zydus Lifesciences a buy after today&#8217;s fall?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>This article does not constitute investment advice. The fundamental case for the company remains as described above. Consult a SEBI-registered financial advisor before investing.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_Zydus_Lifesciences_share_price_target_2026\"><\/span><strong>Q: What is Zydus Lifesciences share price target 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Analyst consensus 12-month Zydus Lifesciences target is Rs analyst target. At Rs 840, this implies meaningful upside if the triggering event resolves positively. These are analyst estimates, not guaranteed returns.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_Zydus_Lifesciencess_52-week_high_and_low\"><\/span><strong>Q: What is Zydus Lifesciences&#8217;s 52-week high and low?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Zydus Lifesciences&#8217;s 52-week high is Rs 1,300 and 52-week low is Rs 790. The stock currently trades at Rs 840.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_caused_the_Zydus_Lifesciences_share_price_fall\"><\/span><strong>Q: What caused the Zydus Lifesciences share price fall?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The specific trigger: key event. Zydus at 26x P\/E is reasonable for its generic business.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_the_key_catalyst_to_watch_for_Zydus_Lifesciences\"><\/span><strong>Q: What is the key catalyst to watch for Zydus Lifesciences?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The specific resolution event: watch for the event to resolve. The bull case becomes operative once this trigger&#8217;s worst-case scenario is avoided.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_the_stop-loss_for_Zydus_Lifesciences_at_current_levels\"><\/span><strong>Q: What is the stop-loss for Zydus Lifesciences at current levels?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The 52-week low of Rs 790 is the technical stop-loss reference. A sustained break below this level would signal further institutional selling.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_should_long-term_Zydus_Lifesciences_investors_do\"><\/span><strong>Q: What should long-term Zydus Lifesciences investors do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Long-term investors should assess whether today&#8217;s trigger changes the fundamental earnings outlook beyond 1\u20132 quarters. If not, accumulation near Rs 790 is historically the right framework. Consult a SEBI-registered financial advisor.<\/p><p><strong>Disclaimer: <\/strong>Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice. Consult a SEBI-registered financial advisor before making any investment decisions.<\/p><p>For more analysis, visit <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Articles\"><\/span><strong>Recent Articles<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/why-is-krbl-share-price-falling\"><strong>Why is KRBL Share Price Falling? Check Next Share Price Target&nbsp;<\/strong><\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-reliance-infrastructures-share-price-falling\"><strong>Why is Reliance Infrastructures Share Price Falling? Check Next Share Price Target&nbsp;<\/strong><\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-mahanagar-gas-share-price-falling\"><strong>Why is Mahanagar Gas Share Price Falling? Check Next Share Price Target&nbsp;<\/strong><\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-happiest-minds-share-price-falling\"><strong>Why is Happiest Minds Share Price Falling? Check Next Share Price Target&nbsp;<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Zydus Lifesciences \u2014 India&#8217;s fifth-largest pharma company and the beneficiary of the US FDA&#8217;s most valuable recent generic exclusivity (Revlimid) \u2014 dropped 4.6% as Revlimid (lenalidomide) authorised generic revenue began its inevitable decline as the 180-day exclusivity window expired and multiple generic entrants commenced sales. 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