The Indian pharmaceutical market (IPM) grew at 9.7 percent in the second quarter ended September, according to market research firm AIOCD-AWACS, displaying pre-GST level growth rate.
IPM growth rate had slumped to 1 percent in the same period previous year due to the disruption caused by GST implementation.
IPM grew close to 10 percent in the first half of FY19, returning to the 10 percent growth of FY17. The growth had dropped to 6.1 percent in the run-up to GST and its subsequent implementation.
“Third quarter 2018 posted the highest growth as compared to last four quarters, highest Incremental value added on a quarterly basis since Q4 2016,” said AIOCD-AWACS in a statement.
For September, IPM grew at 7.5 percent, slower than August due to the decline in the growth of medicines to treat dermatology and gastrointestinal segment.
The industry grew at the fastest past of 12.7 percent in July.
The IPM reported sales of Rs 11,324 crore for September
The IPM stood at Rs 1.26 lakh crore for the moving annual total (MAT) ended September.
The acute segment led by anti-infectives grew at 9.9 percent and respiratory saw 11 percent growth in September signalling the onset of a seasonal factor.
The fixed-dose combination (FDC) related market declined 6.6 percent while the FDCs not under ban saw growth of 7.6 percent. Single molecules grew at 7.6 percent for the month of September. The government banned hundreds of FDCs citing lack of therapeutic justification.
The price controlled National List of Essential Medicines (NLEM) 2013 molecules market showed growth at 3.8 percent whereas the non-NLEM market grew at 7.9 percent.
Volumes in September were stagnant at 0.1 percent while the price growth stood at 4.8 percent. The newly-introduced drugs that mostly do not fall under price controlled category rose 2.5 percent.
Among the top 10 Indian drug makers, Mankind had the highest growth at 13.4 percent in September followed by Lupin at 11 percent, Intas at 10.6 percent, Torrent Pharma at 5.9 percent and Alkem 9.1 percent.
The top 10 drug makers contribute about 42.6 percent to the IPM.