Indian pharma market sales grow 10% in November; volumes rise 3%
This story was originally published at 15:40 IST on 6 December 2024
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MUMBAI – The Indian pharmaceutical market revenue grew by 9.9% in November, driven by strong sales of cardiovascular, urological, and gastro-intestinal drugs, according to research firm Pharmarack Technologies, earlier known as AIOCD Pharmasofttech AWACS Pvt. Ltd. The industry's sales growth for the domestic market was 6% in October and 5.3% in September.
All therapy areas saw revenue growth in November, but respiratory, anti-malarials and gynaecological drugs were laggards, Pharmarack said. The industry's overall volumes rose 3% in November, compared to a fall of 3% during October.
On a moving annual total basis, the Indian pharmaceutical industry's sales grew 8% to INR 2.2 trillion for the 12 months ending November. Volume growth, on a moving annual total basis, was 6.2%.
Among the top 20 companies by revenue, each saw sales growth in November, with Sun Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., and Glenmark Pharmaceuticals Ltd. witnessing double-digit sales growth. Pfizer Ltd. and Emcure Pharmaceuticals were among the ones that saw low single-digit growth.
Abbott India Ltd. continued to dominate the list of 20 largest drug brands in India with four of its brands featuring in it, followed by Alkem Laboratories Ltd. and Cipla Ltd., which had two such brands each. End
Reported by Apoorva Choubey
Edited by Saji George Titus
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