The Indian pharmaceutical sector growth slowed to 2.9% in November as volumes declined.
After a strong October, the performance was muted in November due to a high base, 4.5% decline in volumes and a slower growth in price and new launches, said Krishnanath Munde, associate director at India Ratings and Research Pvt., citing data from the All Indian Origin Chemists & Distributors Ltd.
India Ratings expects the market to grow 8–9% in the current financial year.
Key Highlights
Volumes declined 4.5% against 5% in October.
Prices rose 4.6% against 5.3% in October.
New launches rose 2.8% against 3.4% in October.
Sales Highlights
The top 10 therapies contributed 87% of the Indian pharma market.
According to data from the AIOCD:
Sales of the pain segment rose the most at 6.7%.
This was followed by respiratory and anti-infectives, which grew 6.5% and 5.6%, respectively.
Neuro/CNS rose 3.3%, while cardiac segment gained 3%.
Derma reported a decline of 0.4%.
MAT Performance
The moving annual total or the 12-month rolling sales of overall pharma products rose 6.9% in November compared with a growth of 7.3% a year earlier.
Company Performance
Faster Than Industry
Eris Lifesciences Ltd. reported the highest growth in November at 10.5%, followed by Cipla Ltd, which grew 8.6%. Torrent Pharmaceuticals Ltd., Glenmark Pharmaceuticals Ltd. and Sun Pharmaceutical Industries Ltd. reported a growth of 8.2%, 7.7% and 7.3% respectively.
Indoco Remedies Ltd., Ipca Laboratories Ltd. and Alkem Laboratories Ltd. reported a growth of 6.9%, 6.4% and 6.1% respectively. Lupin Ltd., Ajanta Pharma Ltd. and Abbott India Ltd. grew 4.1%, 4% and 3.9% respectively.
Slower Than Industry
FDC Ltd. reported a growth of 2.3%, while Alembic Pharmaceuticals Ltd. posted a 1.2% growth, underperforming the market. GlaxoSmithKline Pharmaceuticals Ltd. reported growth of 0.7%, while Mankind Pharma Ltd. posted a growth of 1.6%
Pfizer Ltd. and Sanofi India Ltd. reported a decline of 11.9% and 5.7% respectively. Sales of JB Chemicals & Pharmaceuticals Ltd. and Dr. Reddy's Laboratories Ltd. fell 2% and 0.5% respectively.
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