New Delhi:The India pharma market (IPM) grew 6.9 per cent (on-year) in May, driven by strong outperformance in cardiac, respiratory, and anti-diabetes therapies, a report showed on Tuesday. In May, Indian companies grew 6.6 per cent, while MNCs grew 8.4 per cent YoY.
Acute therapy growth stood at 5 per cent in May, the second consecutive month of muted YoY growth, according to the report by Motilal Oswal Financial Services Ltd. For the 12 months ending in May, IPM growth was led by price/new launches/volume growth of 4.2 per cent/2.3 per cent/1.1 per cent YoY.
As of May, the Indian pharma companies held a majority share of 83 per cent in IPM, with the remaining held by multi-national pharma companies (MNCs). In May, among the top 20 pharma companies, JB Chem (up 11.6 per cent YoY), Glenmark (up 11.8 per cent YoY), and Ajanta (up 10.6 per cent YoY) recorded higher growth rates vs IPM.
Ajanta outperformed IPM, led by strong double-digit growth across key therapies like Anti Diabetic/Ophthal. JB Chemicals outperformed IPM, led by a strong show in Cardiac/Ophthal/Anti Parasitic. On a MAT basis, the industry reported 7.6 per cent YoY growth. Chronic therapies witnessed 10 per cent YoY growth, while acute therapies displayed 5 per cent YoY growth in May, said the report.