Never mind the global turbulence, India's pharma sector posted a robust growth of 14 per cent in September.
In fact the domestic market has sustained its growth over the last year, at 15 per cent.
But the September figures are indeed remarkable, coming at a time when the graphs are heading south everywhere.
Another interesting development is that pharma major Cipla has emerged the leader in the retail market, with a market share of 5.31% in September, overtaking Ranbaxy.
Till July this year, Ranbaxy had been leading with a 5.10% share of the market. In September, Ranbaxy ranked second garnering a 5.11% share, while Glaxo-SmithKline occupied the third slot with 4.47% market share. Piramal Healthcare and Zydus Cadila were ranked fourth and fifth in the domestic market with shares of 3.75% and 3.59% respectively.
The domestic pharma market posted a healthy growth of over 14% in September, with the market valued at Rs 33,605 crore, according to consulting company, ORG IMS. The market had grown by over 12% in August. Pharma companies are, however, not posting strong financial results in the second quarter due to other factors like input and over-head costs.
In September last year, the company rankings were pretty much the same with Cipla leading with a share of 5.09%, followed by Ranbaxy at 4.90% and GSK at 4.86%. Cipla has maintained the top slot in the market for the last two years.
On a moving annual total basis in September (12-month period ended September), major gainers (in value terms) include Cipla at 17.7%, Ranbaxy and Sun Pharma each at 17.6%, Lupin at 20.9% and Mankind at 35.4%. Overall, the pharma market grew by nearly 13% on a MAT basis in September.
During the month, the respiratory segment has shown a healthy growth of 14%, while anti-infectives have recorded over 18% growth and cardio-vascular drugs grew by 18%.
Unlike other sectors of the economy, the domestic pharma market has been able to sustain its growth over the past one year, with a compound annual growth rate of 15%. Chronic therapy has consistently increased its contribution to the domestic market with the share of acute segment considerably shrinking over the past few years, Rupali Mukherjee reports in Times of India.
Within the chronic segment, anti-diabetic drugs have shown the highest value growth, followed by cardiac therapy during the first half of the year. Anti-infective drugs have also recorded a robust growth during the period.
During the six-month period, gastro-intestinal therapy grossed the third highest value in the market, followed by the respiratory category.