BackIPCA Labs leads top 10 Indian pharma companies in August
The 17.7% growth in the Indian pharma market during August was led by improving sales in the non-covid products portfolio even as traction in covid product sales continued
PremiumThe Indian pharmaceutical market (IPM) continues to grow at a strong pace, as indicated by August numbers. The market has registered a growth of 17.7% year-on-year in August compared to 13.7% in July. Notably, the run rate is now much better than seen in FY21.
The rebound in the acute segment complements that in the chronic segment, helping the pharma market growth.
India Ratings and Research said the 17.7% year-on-year revenue growth in IPM during August was led by improving sales in the non-covid products portfolio even as traction in covid product sales continued.
Amongst the segments, respiratory care led the pack, clocking a growth of 38.2% during August. The pickup in the segment bodes well for companies such as Cipla Ltd that offer an extensive range of respiratory products. The respiratory segment had seen 22.8% YoY growth in July.
Analgesics and anti-infectives recorded a growth of 32.4% and 29.2% YoY respectively. The 5.8% growth in prices, and 3.5% growth in new product launches were helped by 5.9% growth in volumes, suggest Motilal Oswal Financial Services Ltd data.
On moving three months average, the industry growth stood at 14.5% year-on-year. Among therapies that led this growth included anti-infectives, vitamins and minerals, and gastrointestinal drugs. Sales for these grew 25.4%, 21.6%, and 20% YoY respectively. Analgesics with 15.6% growth too impressed.
Ipca Laboratories Ltd led the pack of companies, clocking a strong 38.5% YoY growth in August followed by Aristo Pharmaceuticals (34%), FDC (33.6%), Indoco Remedies (33%), Ajanta Pharma (31.7%), Macleods Pharmaceuticals (28.8%), and Mankind Pharma (27.1%).
On a moving three months average, Glenmark Ltd, Cipla Ltd and Alkem Laboratories Ltd were among listed entities that continued to lead with a growth of 28.9%, 19.8% and 18.6% respectively.
India Ratings expects IPM revenue to grow over 12% in FY22.
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