Indian pharmaceutical drug formulation market grew 9.5 per cent to Rs 9,125 crore in July with Indoco Remedies leading the race with 27.8 per cent growth followed by Aristo and Hetero, according to pharmaceutical market research data compiled by AIOCD AWACS.
As per the data, Indian companies grew 10.9 per cent during the month, while MNC pharma companies by 5 per cent with Sanofi leading the pack with 20.6 per cent, followed by AstraZeneca and Janssen.
Reacting to the data, Indoco Remedies, Managing Director, Aditi Kare-Panandikar said: “Along with good monsoons, the numero uno performance of Indoco was an outcome of the domestic formulation business restructuring undertaken last year and is now seen yielding the desired results.
“The performance of our top 15 brand has helped us improve our market share by 0.12 per cent and advance our rank to 27th from 29th position. We hope to build upon this momentum going forward in the domestic market,” Kare-Panandikar said.
In July, at an industry level, anti-malarials gained 27.7 per cent, respiratory market at 27.2 per cent, anti-infectives by 14.9 per cent, anti-diabetic by 10.1 per cent and pain & analgesics by 9.8 per cent.
Among those that grew below the industry average include gastrointestinal at 8.4 per cent, cardiac at 5.2 per cent, neuro/CNS at 1.9 per cent and derma and urology at 5.8 per cent and 8 per cent, respectively.
From a geographic perspective, 15 regions have outgrown the industry average, though no region has reported negative growth rate. Odisha led the race with 17.9 per cent growth following by Bihar at 16.1 per cent and South Maharashtra at 15.4 per cent.
Essential medicines as per National List of Essential Medicines (NLEM) grew 1.6 per cent, non NLEM market by 11.2 per cent in value terms, while the volume growth was 11 per cent and 4.2 per cent, respectively