Pharma market to sustain growth in FY15-16: P Lilladher

Prabhudas Lilladher's report on pharma space

"The Indian Pharma market (IPM) grew at 18.9% in February 2015, achieving the highest growth since January 2012. We attribute the IPM growth to the rise in volume as 70% of the growth was contributed by the higher SKU sales of older products and new launches. The Domestic Pharma out performed the MNC pharma for the first time since October 2015 by 180 bps. The MNC Pharma grew 17.6% (same as January 2015) while domestic Pharma grew at 19.4%. The benefits of lower base and higher contributions of non-NLEM drugs were the reasons for higher domestic Pharma growth vis-a-vis MNC sales growth. Given the strong increase in volume, we expect the IPM growth to sustain FY15E-16E", says Prabhudas Lilladher research report.

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