This Article is From Dec 22, 2020

Volume Decline Muted Pharmaceutical Market Growth In November

The pharmaceutical market reported 128.3 billion total sales in November 2020 and decline in volume can be attributed to the lower sales of the acute therapy products

Volume Decline Muted Pharmaceutical Market Growth In November

Pharmaceutical market reported Rs 128.3 billion total sales in November 2020

The sluggish growth of the Indian pharmaceutical market during November 2020 was largely led by a volume decline, while the growth in prices and new products remained healthy. The decline in volume can be attributed to the lower sales of the acute therapy products on account of a higher base in the corresponding month last year. According to a recent research report released by India Ratings and Research (Ind-Ra), the pharmaceutical market reported Rs 128.3 billion total sales in November 2020. On a monthly average total, for the past 12 months basis, the growth was 3.0 per cent for the same month. 

According to the report, Glenmark Pharmaceuticals Limited, Aristo Pharmaceuticals Private Limited, and Cipla Limited significantly outperformed the market last month, with revenue growth of 16.1 per cent YoY (year-on-year), 9.9 per cent YoY, and 7.4 per cent YoY, respectively. This was led by higher sales of coronavirus related products and the continued outperformance of chronic therapies. 

Sun Pharmaceutical Industrials Limited ranked first in the pharma market during monthly average total, last month. Moreover, Indian firms dominated the pharma market. Among the top 15 companies (comprising 57.5 per cent of the market), 13 are Indian companies with a market share of 48.5 per cent, while just two are MNCs with a nine per cent market share.

The revenue in acute therapies declined 1 per cent YoY while that in chronic and sub-chronic therapies increased four per cent YoY and one per cent YoY, respectively, last month On a monthly average total basis, revenue in acute therapies were almost flat, while that for chronic and sub-chronic therapies grew by eight per cent and three per cent YoY respectively.

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