Indian pharma grows at mere 1% in Sept quarter, recovery from GST disruption slow
In the second quarter ended September the IPM grew 1 percent versus 14 percent in the same period previous year. Second quarter generally happens to be a good quarter for Indian drug market.
Indian pharmaceutical market (IPM) continued to be sluggish even in September month as the recovery from the supply chain disruption caused due to GST rollout in July seems to be a protracted one.The industry grew at 2.8 percent in September with sales worth Rs 10,420 crore compared to 13.5 percent growth at Rs 10,136 crore during the same period last year, according to market research firm AIOCD-AWACS.
In the second quarter ended September the IPM grew 1 percent versus 14 percent in the same period previous year.
Second quarter generally happens to be a good quarter for Indian pharmaceutical market.
“The GST roll-out has impacted the second quarter; the incremental sales are at the lowest. Next quarter will be crucial,” the AIOCD-AWACS said in a statement.Sales from anti-infective segment in September declined 3.5 percent, while dermatology, gastro intestinal and vitamins and mineral categories grew at 12.7 percent, 6.1 percent and 5.4 percent, respectively.
Major chronic therapy like anti-diabetic continuous to thrive high double-digit growth of 17.3 percent.
Seven out of the top 20 brands are from anti-diabetes.
Cardio segment has posted growth of 9.7 percent for the month, while central nervous system (CNS) grew 6.3 percent.Respiratory segment, however, reported just 0.6 percent growth.
Multinational companies grew at 3.9 percent for September 2017 which is faster than the Indian companies growth rate of 2.5 percent.
Domestic sales of Sun Pharma, India’s largest drug maker, rose 4.8 percent to Rs 3134 crore in the first of FY18. The company had a market share of 4.8 percent. Cipla came second with sales in India growing 0.2 percent at Rs 2650 crore during the first half.
In September quarter the pharma sector saw a volume stagnation at zero percent and price growth at –1.8 percent while the new products fared comparatively better at 2.8 percent.Sales of drugs under price control fell 1.7 percent in September, while those of drugs outside the price control rose 3.4 percent, the data showed.The Indian pharmaceutical market is worth around Rs 1,14,217 crore for the year ended September 2017.