Indian drug formulation market grows 15.3% in August

The domestic formulation drug market grew by 15.3 percent in August to Rs 9,643 crore over the corresponding month last year.

The growth was driven by 9.1 percent expansion in volumes, 2.9 percent rise in prices and 3.3 percent in new launches, according to the data compiled by pharma market research company AIOCD AWACS.

Indian companies grew by 17.1 percent against 9 percent growth for MNC pharma companies during the month.

Amongst the top 50 MNCs, Janssen grew by 23.2 percent followed by Sanofi at 13.4 percent and Abbott at 12.6 percent over the same month last year.

Among the top 50 Indian corporates, Centaur had the highest growth rate at 42.5 percent followed by Bharat Serums at 34.4 percent, Apex at 34 percent and Indoco Remedies at 33.7 percent.

Following the regulatory ban on fixed dose combination, this segment showed a huge volume de-growth of 16.8 percent.

In revenue terms, Indian companies degrew by 11.1 percent in the FDC portfolio whereas the MNCs degrew by 16.1 percent, the data said.