Upward Momentum In Pharma Industry’s Sales Likely To Continue: CARE Ratings
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CARE Ratings Research Report
The Indian pharma industry’s sales increased by 11.6% in the first three-quarters of FY21 on an average. This is based on sales data of 159 pharma companies in the industry.
The industry’s sales grew by single-digit 8.5% YoY in the June 2020 quarter which accelerated to 12.5% and 13.9% in the September 2020 quarter and the December 2020 quarter, respectively.
The 11.6% growth in industry’s sales during the period April-December 2020 was led by an increase in pharma exports from India which rose by 15.8% in the first nine months of FY21.
This was backed by easing lockdown restrictions, product launches and demand for drugs in the international market for the treatment of Covid-19.
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