Indian Pharma Market Delivers Revenue Growth Of 8.8% In June
Therapies such as cardiac, anti-infectives, gastro, and respiratory delivered double-digit YoY growth in June.
The Indian pharmaceutical market delivered healthy revenue growth at 8.8% year-on-year in June, as against a moderate 5.2% growth in May.
During the period between January and June, the Indian pharma market reported growth at an average of 8.5% YoY, according to AIOCD-AWACS. Volume growth stood at an average negative of 0.3% YoY.
Therapies such as cardiac, anti-infectives, gastro, and respiratory have delivered double-digit YoY growth in June. In terms of growth drivers, price and new launches drove the overall performance of the pharma market in June, whereas volume growth was negative at 1.7% YoY.
"India Ratings and Research expects the Indian pharma market growth to be at 8–9% year-on-year for FY25, as against 6.5% year-on-year in FY24 and 9.9% year-on-year growth in FY23,” Krishnanath Munde, associate director at India Ratings and Research, told NDTV Profit.
Key Highlights
Volume growth was 0.2%, as against -2.1% in June 2023.
Price growth of 6% in June this year, as compared to 5% over the same period last year.
New launches increased 2.6%, as against 3.1% in June 2023.
MAT Performance
The moving annual total—or the 12-month rolling sales of overall pharma products—increased 7.6% in June.
Company Performance
Faster Than Industry
FDC outperformed the market, with growth of 22.2%. This was followed by Cipla and Glenmark Pharmaceuticals, which grew at 16.5% and 16.4%, respectively. Alkem Laboratories, too, outperformed the market with a growth of 15.3%, followed by Torrent Pharmaceuticals, which grew 13.6%.
Mankind Pharma, GlaxoSmithKline Pharmaceuticals, Indoco Remedies and Sun Pharmaceuticals grew in the range of 10–13%.
Lupin, Eris Lifesciences and JB Chemicals and Pharmaceuticals grew 9.7%, 9.3% and 9.1%, respectively.
Slower Than Industry
Dr Reddy's Laboratories, Ajanta Pharma and Abbott India underperformed the industry at 7.8%, 7.6% and 6.5%, respectively.
Pfizer India had a growth rate of 5.7%, followed by Natco Pharma, which grew by 4.6%.
Zydus Lifesciences grew 1.2% and Sanofi India witnessed a negative growth of 1.4%.
In-Line Growth
Ipca Laboratories and Alembic Pharmaceuticals grew in line with the industry at 8.9% and 8.5%, respectively.
