OPEN APP
Home >Markets >Mark To Market >Glenmark and Cipla gain in December as Indian pharma sales show recovery

Glenmark and Cipla gain in December as Indian pharma sales show recovery

Glenmark Pharma’s current portfolio consists of 135 products authorised for distribution in the US market and 62 abbreviated new drug applications (ANDAs) pending approval with the USFDA. Photo: Pradeep Gaur/MintPremium
Glenmark Pharma’s current portfolio consists of 135 products authorised for distribution in the US market and 62 abbreviated new drug applications (ANDAs) pending approval with the USFDA. Photo: Pradeep Gaur/Mint

  • One positive is that anti-infective sales are back, rising about 5.2% y-o-y, compared to sluggish sales in November. Besides, some critical segments such as cardiac and gastro posted good year-on-year increases in December

Indian pharma companies’ sales are rebounding after clinic and doctor visits started to normalise. Although, it is still early, the Indian Pharma Market's year-on-year growth acceleration is encouraging, coming in at 8.5% in December against a mere 1% growth in November. The Nifty Pharma index is up 1.6% year-to-date despite it being the top gainer last year.

One positive is that anti-infective sales are back, rising about 5.2% y-o-y, compared to sluggish sales in November. Besides, some critical segments such as cardiac and gastro posted good year-on-year increases in December.

Also Read | The race to take fashion retail online

Ajanta Pharmaceuticals Ltd topped sales charts in December with 18%, while Glenmark Pharmaceuticals Ltd and Cipla Ltd have shown sales growth of about 17% respectively. Besides, JB Chemicals Ltd, Eris Lifesciences Ltd and Cadila Healthcare Ltd are showing growth in the range of 15-16%, which is quite impressive.

Analysts reckon that some of the seasonal factors are influencing sales, apart from continued demand for covid-19 products. With coroavirus cases reducing, patient footfall at clinics is rising, which is driving a growth in the anti-infective segments.

For the quarter ended December, volume growth has been gaining traction. Against September quarter’s decline of 6.5%, volume growth declined by about 1.9% in the December quarter.

“Year-on-year price growth of 4.9% and new products growth of 3.4% was offset to some extent, by year on year volume decline of 1.9%," said analysts at Motilal Oswal Financial Services in a client note.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout