JB Pharma, Sun, Torrent ,Lupin, Abbott lead pharma market growth in October

  • Indian Pharma Market: JB Pharma, Sun, Torrent ,Lupin, Abbott, Glenmark, Dr Reddy's Cipla, Zydus remained among Key pharma market growth drivers in October, outperforming the  The Indian Pharma market growth remained at mid single digits during October albeit on a high base.

Ujjval Jauhari
Updated15 Nov 2024, 10:15 AM IST
Indian Pharma Market :JB Pharma, Sun, Torrent lead pharma market growth in October 2024
Indian Pharma Market :JB Pharma, Sun, Torrent lead pharma market growth in October 2024

India Pharma Market: Nifty Pharma index has seen a decline of 4% in November. While the selling pressure in the domestic markets has led to the this decline, the Indian Pharma Market growth also was not very encouraging in October albeit on a high base.

Pharma Market growth

The Pharma Market growth as per reports remained in mid single digits during October'2024. While high base of last year was also one reason for this the growth was not significantly higher month-on month too.

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In October’24, Indian Pharma Market (IPM) continued to exhibit moderate growth of sub 5% Year on year versus 16% year on year seen in October’23 and around 5% YoY in September’24), suggested Centrum Stock Broking report. This was largely due to high-base of last year, however, the growth was flat month on month said analysts at Centrum.

MAT growth or growth over past twelve months at 6.7% nevertheless remains much better. On MAT basis, chronic therapy witnessed 10% YoY growth while acute therapy witnessed a moderate 5% YoY growth. In October’24, chronic therapy growth delivered 10% YoY growth while acute therapy grew by a mere 2% YoY. suggested Centrum data

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Price increase and new launches drive growth

The volume growth remains weak though price hikes and new launches contributed more to the growth .

Deepak Jasani, Head of Retail Research at HDFC Securities said that Indian Pharmaceuticals Market continued to report mid-single digit growth on year on year basis in October. Overall growth was driven by growth in price increase of 5.2% year on year and new launches which increased 2.7% year on year, while volume growth (negative 1.8%YoY)remain weak.

Key growth drivers

Company-wise, J B Pharma (J. B. Chemicals & Pharmaceuticals Ltd) continues to outperform the Indian Pharma Market growth delivering 12% YoY rise. J B Pharma was followed by Sun Pharmaceutical Industries Ltd, Torrent Pharmaceuticals Ltd delivering 10% year on year growth. Lupin Ltd , Abbott India Ltd, Glenmark Pharmaceuticals, Dr Reddy's Laboratories Ltd CIPLA Ltd and Zydus Lifesciences outperformed IPM delivering 6-8% growth in October suggested Centrum Data. Alkem Laboratories Ltd with 2% YoY growth and Mankind Pharma with 1% year on year growth were key laggards that underperformed IPM during October’2024 as per centrum.

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:15 Nov 2024, 10:15 AM IST
Business NewsMarketsStock MarketsJB Pharma, Sun, Torrent ,Lupin, Abbott lead pharma market growth in October

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