According to reports, the Indian pharma market (IPM) growth moderated slightly on a year-on-year basis to 5.3% in December 2021 as compared to 6.6% in November last year.
However, it was on expected lines given the soft December weather and the higher base of last year. Analysts attributed the decline to moderation in volume growth.
On the other hand, according to Motilal Oswal Financial Services Limited (MOFSL), the growth in value and new products was 5.4% and 1.2% year-on-year, respectively.
However, the impetus has been provided by rapid segment sales growth. Also, the MAT in the industry grew by 14.9% on a year-on-year basis (total annual growth). The anti-infectives, pain relievers and gastro segments grew by 25.5%, 22.6%, 20.9% respectively in the segment, which drove the growth of MAT. Respiratory segment also registered strong year-on-year growth during May-December’21 and as per analysts at MoFSL outperformed IPM on MAT basis.
During December, respiratory product sales grew at a faster rate of 21% year-on-year. This was well supported by the Ophthalmology and Pain Relief Products segment, which marked strong growth of 13.7% and 13.5% year-on-year, respectively.
However, a mild increase was observed in treatments such as anti-infectives, VMN (vitamins and minerals) and diabetes treatment drugs. The MOFSL report shows that Anti-Infectives posted a 2.8% year-on-year decline in sales, while VMN and Anti-Diabetes at a softer pace of 1% year-on-year and 1.3% year-on-year Grow. This dragged down the overall growth of IPM.
Among the listed companies, IPCA Laboratories Ltd., Ajanta Pharma Ltd., Sun Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd. registered the strongest growth. While the secondary sales of IPCA grew by 22.1% year-on-year during December. Ajanta, Sun, Torrent registered very good growth of 12-17% year on year.
Indoco Remedies Ltd., Eris Lifesciences Ltd., GlaxoSmithKline Pharmaceuticals Ltd., Dr. Reddy’s Laboratories Ltd. also saw growth in their secondary sales prior to IPM.
Meanwhile, the companies that accounted for the bulk of COVID treatment drug sales during 2020 – Cadila Healthcare Ltd, Cipla Ltd, Glenmark Pharmaceuticals Ltd – saw soft sales growth based on the previous year’s high.
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