Indian drug formulation market grows 15.3% in Aug

The domestic formulation drug market grew by 15.3% in August to Rs 9,643 crore over the corresponding month last year.

The growth was driven by 9.1% expansion in volumes, 2.9% rise in prices and 3.3% in new launches, according to the data compiled by pharma market research company AIOCD AWACS.

Indian companies grew by 17.1% against 9% growth for MNC pharma companies during the month.

Amongst the top 50 MNCs, Janssen grew by 23.2% followed by Sanofi at 13.4% and Abbott at 12.6% over the same month last year.

Among the top 50 Indian corporates, Centaur had the highest growth rate at 42.5% followed by Bharat Serums at 34.4%, Apex at 34% and Indoco Remedies at 33.7%.

Following the regulatory ban on fixed dose combination, this segment showed a huge volume de-growth of 16.8%. In revenue terms, Indian companies degrew by 11.1% in the FDC portfolio whereas the MNCs degrew by 16.1%, the data said.