Glenmark, JB Pharma, Ajanta, Zydus, Sanofi lead Indian Pharma Market growth during May’2024

  • Stock Market Today: Glenmark Pharmaceuticals , JB Pharma, Ajanta Pharma, Zydus LifeSciences, Sanofi India lead Indian Pharma Market growth during May 2024. IPM grew at a healthy pace of 10% . Check for underperformers, other details and forward prospects.

Ujjval Jauhari
Updated14 Jun 2024, 01:21 PM IST
Glenmark, JB Pharma, Ajanta, Zydus, Sanofi lead Indian Pharma Market growth during MAy'2024
Glenmark, JB Pharma, Ajanta, Zydus, Sanofi lead Indian Pharma Market growth during MAy’2024(AFP)

Stock Market Today: Nifty Pharma Index that has gained more than 5% in last one month and also is up almost 18% year-to-date. As Indian Pharmaceutical Manufacturers have been doing well in the export markets, it is the domestic market growth that is cushioning their performance and earnings prospects further.

The Indian Pharma market growth remained steady at10% during the month of May'2024 and is an improvement of 8.9% growth reported in the month of April'2024, suggest analysts reports, Notably the growth was on a high base of May'2023, that had seen IPM grow 10.3%. While the chronic product segment growth has remained supportive, it is the acute segment growth that is catching pace and providing further encouragement.

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Outperformers-

During May'2024, among the top-20 pharma companies, Glenmark Pharmaceuticals with growth of 18.9% yar-on-year) and JB Pharma with a growth of 13.1% YoY grew at a significantly faster pace (in the listed space) compared to the IPM, suggested Motilal Oswal Financial Services data.

Ajanta Pharma with 12.3% year-on-year growth, Zydus Lifesciences with 11.8% growth and Mankind Pharma with 10.8% growth and Cipla with 10.1% growth were among other outperformers in the listed space.

Among MNCs Sanofi India with 12.2% growth also stood out and was  among significant outperformers.

 

However among key underperformers during the month stood Pfizer, Indoco Remedies, GSK (Glaxosmithkline Pharma), IPCA Laboratories and Alembic, which posted 1-7% yoy growth , suggested analysts data.

Among the top-25 companies, Torrent Pharmaceuticals, Abbott, Lupin, JB Pharma and Zydus have gained maximum share over the past six months in the listed space, said analysts at Kotak Institutional Equities. On the other hand, Cipla, Aristo, GSK (Glaxosmithkline Pharma), Alembic, Pfizer, Alkem, Glenmark and Sun have lost a maximum share in the past six months, they added

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Analysts expect strong IPM growth momentum to sustain

Buoyed by improved field force productivity across most companies, price hikes in the non-NLEM portfolio, new launches and higher sales from other channels, Kotak Institutional Equities analysts are currently baking in 10-13% year on year organic domestic sales growth in FY2025 for their coverage

Analysts at Antique Stock Broking expect IPM to grow at a healthy 8%-10% in FY25 supported by a recovery in volumes and new launches, whereas they expect limited price hikes on account of weak NLEM (National List of Essential Medicines) . With newer launches in the chronic space and expected in-licensing opportunities, Antique analysts believe the chronic segment would grow faster and drive IPM growth in FY25. Among the coverage companies, Antique Stock Broking prefer Mankind and Torrent Pharma. their healthy growth rates and therapy mix.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

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First Published:14 Jun 2024, 01:21 PM IST
HomeMarketsStock MarketsGlenmark, JB Pharma, Ajanta, Zydus, Sanofi lead Indian Pharma Market growth during May’2024

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