The study looked at what influences how Indian pharma companies choose to finance their operations. They found that these companies tend to use more debt when they can get tax benefits from it, but as they become more profitable, they prefer to use their own earnings instead. This suggests that pharma companies start off using debt to fund their projects, but switch to using their profits as they become more successful. This behavior should be studied more in the pharma industry and other industries that need a lot of money to operate.