KRChoksey: Pharma Sector Q2 Review - Another Good Quarter; Led By Exports And Cost Savings
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Indian pharmaceutical market growth turns positive in September quarter; volume decline narrows:
• For the quarter ended September 20, the Indian pharma market reported a muted revenue growth of 1.0% YoY (vs -5.9% YoY in June quarter).
• Volume fell 6.5% YoY (vs -11.8% YoY in June quarter), price-led growth was 4.6% YoY (vs +4.5% in previous quarter) while new product launch-led growth was at 2.9% YoY (+1.4% in previous quarter). On a moving annual total basis, YoY growth in the industry was at 3.5% YoY.
• Drugs and pharmaceuticals continued to record a sharp increase in exports during the quarter and exports recorded double digit y-o-y growth during the quarter.
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