Healthcare Sector Update - Covid-19 Related Drugs, Low Base Skyrockets April Growth: Motilal Oswal
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Motilal Oswal Report
Indian pharmaceutical market growth was 51.5% YoY in April 2021 versus 10.3% YoY in March 2021.
Strict lockdowns in April 2020 had impacted sales last year (11% YoY decline in April-20).
This, coupled with strong Covid-19 drug sales, led to a sharp spike in YoY growth for April-21.
Anti-infectives/vitamins minerals nutrients/pain therapies exhibited a growth of 134%/76%/64% YoY.
Anti-infectives therapies grew sharply (~2.3 times) in April-21 YoY versus an 8.5% YoY growth in March-21.
Respiratory sales recovered with a 50% YoY growth in April-21 as against a 15.1% YoY decline in March-21.
National list of essential medicines/non-NLEM (~18%/~82% of IPM) grew 56.1%/50.5% YoY.
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