Pharma stocks are on fire, but domestic growth rates may taper in FY21
Domestic sales of products in chronic and acute therapies have been robust in March, although lower compared to February
February’s sales growth stepped up 12.1%, and that of March climbed 8.9%
Domestic pharma’s growth rate this past year has been remarkable, proving to be a buffer against sluggish overseas sales. While other sectoral indices are in the red, the Nifty Pharma index gained about 14.4% year to date. However, those looking for these growth rates to sustain may need to pencil in a deceleration in the home market.
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