CNBCTV18 - The Indian pharma market has been estimated to have grown by just 2.3% in January, while its volume declined 7.7% from last year said research firm AIOCD AWACS. Read more
According to the segment-wise growth, anti-infectives and respiratory medicines segment slip 7.1% and 5.1% respectively from last year.
Pain/ analgesics medicines dropped a 1.8%. Meanwhile, the vitamins/supplements segment showed only 0.3% growth.
Dermatology medicines, which saw an increase of 10.5%, was the only segment that delivered a decent growth.
Oncology drugs continued to see growth as well at 11.8% from January 2022.
On the other hand, the cardiac segment saw 6.3% increase as well, and so did the opthal/otological segment which grew healthy at 17.6%, however, it contributes just 2% to the overall market.
The AIOCD AWACS said that Indian pharma companies' growth numbers for January were extremely weak and only Torrent was among the listed players that showed the double-digit growth - It may also be because of Torrent's acquisition of Curatio Healthcare.
Meanwhile, the other for pharma companies showed either negative or mid-single digit growth.
"While we have seen some downgrades after the last 2 to 3 quarterly results, there is more room for downside. Alkem Labs, Torrent Pharma, Ipca Labs and Eris Life Sciences would be the most vulnerable given the higher contribution from domestic business," it added.
To create a research-driven pharmaceutical (pharma) and lifesciences ecosystem, and move up the value chain in the global pharma scene, the Centre is working actively on rolling out a research-linked incentive (RLI) scheme for the sector. In the Union budget 2023-24, Finance Minister Nirmala Sitharaman had hinted at fostering a research-driven climate in the pharma sector in India.
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