India IPM - Industry Growth At High Single Digit For Second Straight Month In February: Motilal Oswal

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Motilal Oswal Report

The India pharma market grew 7.7% YoY in February 2024 (versus 8.0% in January 2024 and 24.3% in Feb-23).

Major therapies driving growth were cardiac/derma/neuro (up 13.1%/10.1%/ 9.7% YoY) in Feb-24.

Respiratory/anti-infective therapies declined 1.9%/1.0% YoY, dragging down the overall performance of IPM.

For the 12 months ending in Feb-24, IPM grew 9.0% YoY. Prices/volume/new launches witnessed 4.0%/2.0%/3.0% YoY growth.

Out of top 10 brands, Udiliv and Foracort (Rs 490 million/Rs 790 million) grew at 31%/20% YoY in Feb-24. Rybelsus (Rs 300 million) also registered the highest YoY growth of 88% in Feb-24 in top 40 brands.

Top anti-infective drugs such as DOLO/Calpol/Azithral/Clavam (Rs 320 million/Rs 360 million/Rs 370 million/Rs 520 million) saw a decline of 20%/17%/17%/9% YoY, resulting in an overall decline in anti-infective therapy.

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Motilal Oswal Pharma Monthly Update.pdf

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