Indian Pharma Sales Grow 9.2% In April

The Indian pharmaceutical market grew in April after contracting marginally a month ago, led by sales of therapies such as those for the heart and skin, anti-infectives and anti-diabetics, among others.

The market rose 9.2% year-on-year in April, as compared with a 1% decline in March, according to data from AIOCD-AWACS, the pharma market researcher.

Pricing and new launches drove the overall performance of the pharma market, rising 6.3% and 2.8% year-on-year, respectively, while volume grew 0.1% over the preceding year.

The market had grown 9% and 9.5% year-on-year in February and March and averaged 9% year-on-year between December 2023 and April 2024.

"India Ratings expect IPM (India pharmaceutical market) growth to be at 8–9% year-on-year for FY25, against 6.5% year-on-year in FY24 and 9.9% year-on-year growth in FY23,” Krishnanath Munde, associate director at India Ratings, told NDTV Profit.

Key Highlights

• Volume growth at 0.1%, as against -8.2% in April 2023.

• Price growth of 6.3% in April 2024.

• New launches increased 2.8%, as compared with 2.5% in April 2023.

Sales Highlights

• Sales of cardiac therapies rose the most at 13.5% year-on-year.

• This was followed by anti-infectives and gastro, which grew 9.9% and 9%, respectively.

MAT Performance

The moving annual total—or the 12-month rolling sales of overall pharma products—increased 7.3% in April.

Company Performance 

Faster Than Industry

Natco Pharma Ltd. reported the highest sales growth in April at 46.3%, followed by Torrent Pharmaceuticals Ltd., which rose to 17.7%. Glenmark Pharmaceuticals Ltd. reported growth of 16.7%, while Alkem Laboratories Ltd. soared 14.8%. Alembic Pharmaceuticals Ltd., IPCA Labs Ltd. and FDC Ltd. grew 13.9%, 13.7% and 13%, respectively.

Sun Pharmaceutical Industries Ltd. had a growth of 12.3%, while Lupin Ltd. and Zydus Lifesciences Ltd. rose 12.2%, followed by Dr Reddy's Laboratories Ltd. at 11.7%.

Slower Than Industry

Indoco Remedies Ltd. grew 8.6%, while Abbott India Ltd. grew 7.4%, underperforming the market. Pfizer India contracted by 0.7%.

JB Chemicals Ltd. and Sanofi India Ltd. grew 7.7% and 5.3%, respectively.