Pharma sees 17% growth in June

Written by fe Bureau | New Delhi | Updated: Jul 18 2012, 07:57am hrs
Riding on high growth witnessed by chronic therapies anti-diabetics, cardiovascular and vitamin and neutraceuticals the domestic drug market continued to grow at a healthy 16.9% in June. For the period of 12 months ended June 2012, the Indian drug market grew at a robust 16.8% to touch R65,301 crore, according to pharma market research firm Aiocd Awacs.

From a therapy perspective, chronic therapies have done exceedingly well for the month of June, with anti-diabetic (32.7%), cardiac (21.1%). The vitamins and nutrients market has also grown at 21.1% for the month, while the respiratory market for the month registered a low growth of 6.1%, said Hari Natarajan, head, pharmaTrac, Aiocd Awacs. He said companies with a strong chronic drug portfolio have expectedly experienced high growth for the month of June.

Sun Pharma, one such company with a heavy tilt towards chronic therapies vis-a-vis acute therapies prone to seasonal fluctuations has grown at a racy 23% for a second consecutive month.

Even for the 12-month ended June, Sun has maintained a healthy growth rate 23% in comparison to its closest rival GSK, which for a similar period grew by 17.8%.

As reported by FE earlier, since early this year Sun and GSK are neck and neck for the spot of third-largest drugmaker by market share.

For the month of June, Sun grabbed a market share of 4.81% of the R5,587 monthly drug market despite a strong show by GSK, which grew at a remarkable 24.9% to command 4.75% market share.

In terms of therapeutic tilt, Sun Pharma has the largest market share of prescription in the segments of psychiatrists, neurologists and cardiologists, and is counted among the top-three leaders in the category of ophthalmologists, orthopedicians, gastroenterologists and nephrologists, according to the company.

Cipla and Abbott grew at a weak 3.8% for the month of June.