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After clocking double digit growth for the last three months, the Indian pharmaceutical market (IPM) posted its highest growth in the last 19 months in February at 18.9 per cent banking primarily on therapy segments like respiratory and anti-infectives. According to data from the data from the market research firm AIOCD Pharmasofttech AWACS, regions like Rajasthan and Madhya Pradesh have done well, clocking 27 and 28.8 per cent growths respectively.
AIOCD Pharmasofttech basically draws data from chemists, druggists and distributors across the country. According to Hari Natarajan, vice-president, business intelligence, India & global audit, AIOCD AWACS said that whether the sudden increase could also be attributable to the external environment, especially due to the H1N1 (swine flu) situation, is something that has to be evaluated.
From regional perspective 16 regions have outgrown the IPM growth. Madhya Pradesh market grew the highest at 28.8 per cent followed by South Rajasthan market at 27 per cent and Telangana Market at 26.3 per cent.
The month of February has seen 5.6 per cent increase in prices of medicines, the highest in the last 19 months and a running quarter average of 5.2 per cent coming from price increases. There has been a growth registered (15.1 per cent) in this quarter which is higher than the corresponding quarter last year (8.8 per cent).
AIOCD data shows that the IPM clocked a turnover of Rs 7,194 crore in February 2015. Among leading corporates, Cipla grew by 24.0 per cent followed by Lupin at 23.2 per cent and Pfizer at 22.6 per cent. Gujarat-based Torrent Pharma has grown by 30.8 per cent. Coming to the performance of Indian companies versus their MNC peers, AIOCD data reveals that Indian companies have grown at 19.4 per cent versus 17.6 per cent for MNCs in February 2015. Amongst the top 50 in MNCs Merck grew by 32.2 per cent followed by Sanofi at 30.7 per cent and MSD at 24.5 per cent. Under the Non-NLEM (National List of Essential Medicines) category Indian Companies grew at 20.8 per cent whereas MNCs grew at 17.7 per cent.
