INDIA’s pharma market reports growth

India’s pharma market grew by 4.5 percent in  September 2020. Prices compensated for the lower volumes in the month. The pharmaceutical market recovered 4.5 percent in September against the same month last year, says The Deccan Chronicle. The market had registered 11.9 percent growth in September last year. Volumes declined 4 percent, but were compensated by prices that grew by 4.6 percent and new launches which grew by 3.8 percent, says  Motilal Oswal Financial Services. Cardiac drugs grew by 17 percent, vitamins, minerals and nutrients by 16.3 percent and anti-diabetic therapy posted growth of 6.5 percent last month. From a 2.2 percent decline in August, the market had made a considerable recovery in September. Anti-infective therapy showed good recovery of 1.4 percent in September against 11 percent y-o-y decline in August. There has been a healthy uptick in Covid-related medicine. But the growth was muted for the quarter ended by September. Volumes fell 6.5 percent, while prices grew 4.6 percent. Though volumes of drugs outside the national list of essential medicines declined by 4.9 percent, prices rose by 4.8 percent. Essential medicines too saw price growth of 3.6 percent. Higher exports should offset some of the reduction in domestic formulation sales because of pandemic-led disruptions, especially in the acute therapies segment. Lower footfalls in hospitals and fewer field visits by medical representatives have affected prescription-based sales in acute therapies, as evident from the steep moderation in the first-quarter sales of anti-infectives and gastro-intestinal medicines. Steady demand for chronic therapies pertaining to lifestyle diseases should help keep domestic formulation sales growth at 5-6 percent,” said Tanvi Shah, associate director, CRISIL Ratings, says The Deccan Chronicle. Picture courtesy: Trade Brains