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Motilal Oswal Report
Growth in the Indian Pharma Market recovered sharply to 4.5% YoY in September 2020 versus decline of 2.2% YoY in August 2020. YoY growth stood at 11.9% in September 2019.
Even on a high base of the past year, IPM delivered healthy growth. Volumes declined 4% YoY (against 9.2% YoY decline in August 2020). Price/new launches grew 4.6% YoY/3.8% YoY.
The anti-infectives therapy showed good recovery of 1.4% in September 2020 versus 11% YoY decline in August 2020.
There has been a healthy uptick in Covid-19-related medicine, driving overall growth in IPM to some extent.
Respiratory sales continued to decline even in September 2020 (down 10.5% YoY), while the Cardiac/VMN/anti-diabetic therapy posted growth of 17.1%/16.3%/6.5% YoY in September 2020.
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