An industry report shows that Indian drugmakers grew healthy revenue for all therapies when they debuted new drugs and raised prices in February.
Sales in the domestic pharmaceutical market were touched in February ₹According to B2B Commerce Platform Pharmarack, it is up 187.81 million from a year ago, up 7.5% from the same period last year. Overall, the total annual value growth of 8.1% until February, with industry sales ₹2.24 trillion. MAT refers to the total sales value in the past 12 months.
However, the number in February fell by 0.2%. “The overall growth of the market seems to have stalled,” said Speetal Sapale, vice president of business at Pharmarack.
Heart, stomach lead
Heart and gastric units remained the highest income contributors, with value increasing by nearly 10% in February. In addition to this, strong double-digit value growth has been documented in urology, hemologic, and oral (tooth-related) therapies.
Price increases also grow strongly while the highest promotional therapies such as heart, stomach, blood-related, hormones, anti-oncology and urology are the same.
“Certain therapies … also exhibit very good unit growth on the top and should ideally be reflected in the volume growth shown by these therapies,” Sapar said. These include heart, gastric, gynecological, anti-diabetes, anti-diabetes and vitamins.
Top players see encouraging growth
Although overall revenue grew 7.5% in February, top companies such as Sun Pharmaceuticals, Intas Pharmaceuticals, Torrent Pharmaceuticals, Zydus Lifesciences and Micro Labs reported double-digit growth.
“It’s encouraging, if you look at the top 20 companies, they will contribute nearly 70% of the Indian pharmaceutical market … and have driven the growth of the market to a large extent,” Sapar said.
GSK’s prescription antibiotic enhancer retained the best-selling brand in the Indian market in February, followed by USV’s oral antidiabetic glycocomet GP1. It is worth noting that the Himalayas Liv.52 (for liver disease) won third place for the second consecutive month. However, if the MAT value is considered in the past 12 months, it is in the sixth place.
Most of the top 20 brands have promising double-digit growth in value and units in February. These include Alkem’s PAN 40 tablet, Novo Nordisk and Abbott’s Ryzodeg insulin, Manforce tablets for erectile dysfunction in humans and Thyronorm for Abbott’s hypothyroidism.
