India’s Pharma Sales Growth Slows In Lockdown-Marred March
Domestic pharma sales grew 8.9 percent year-on-year to Rs 11,856 crore in March.
India’s pharmaceutical sales rose in March, albeit at a sluggish pace, owing to panic buying of medicines for chronic ailments such as cardiac and diabetes amid a nationwide lockdown to combat the coronavirus pandemic.
Sales grew 8.9 percent year-on-year to Rs 11,856 crore, according to data released by AIOCD-AWACS—a pharmaceutical market research organisation. That’s in line with the growth a year ago and 12.1 percent in February 2020. In the quarter ended March, pharma sales grew 9.7 percent year-on-year.
The coronavirus outbreak, which has so far claimed the lives of nearly 150 people and infected over 5,000, forced India to announce the world’s biggest lockdown, shutting businesses temporarily in an economy that’s set to grow at its slowest pace in a decade. The International Monetary Fund has already declared a recession. The Indian government has allowed sale of only essential items such as food and medicines.
Pharma volumes grew at 1.1 percent in March, while price and new launches rose 5.3 percent and 2.5 percent, respectively, during the month, the report showed.
Here’s how sales of various drugs fared in March:
- Sales of medicines for cardiac ailment rose 19.8 percent in March compared with 11 percent in the preceding month
- Sales of anti-diabetic drugs grew 18.2 percent against 11 percent in February.
- Respiratory medicines grew at 22.9 percent compared to 11.5 percent in February.
Considering the lockdown period of more than a week in March, AIOCD-AWACS said there was struggle for gastro (6.4 percent growth), vitamins (3.7 percent growth), pain and analgesics (4.8 percent growth), and derma (contraction of 1.7 percent) segments.
How pharma companies fared in March:
- Top 10: Mankind Pharma grew 13.8 percent and Intas Pharmaceuticals Ltd. grew 13.5 percent.
- Rank 11-25: Aristo Pharma grew 21.8 percent and Dr. Reddy’s Laboratories Ltd. grew 19.1 percent.
- Rank 26-50: Boehringer Ingelheim grew 32.8 percent and Corona Remedies grew 24.2 percent.
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