Indian Economy News

Indian pharma market grows over 9 % in December.

  • IBEF
  • January 11, 2024

The Indian pharmaceutical market demonstrated robust value growth of 9.2% in December, with major therapeutic segments experiencing a double-digit increase. Cardiac, anti-infectives, and neuro/central nervous system therapies exhibited particularly strong volume growth during the same period, according to data from PharmaTrac, a research firm. The top-selling pharmaceutical brands for December were the antibiotic drug Augmentin and the anti-diabetes medication Glycomet GP.

Augmentin achieved sales of US$ 9.1 million (Rs. 76 crore) in December, contributing to a total sales figure of US$ 96.6 million (Rs. 804 crore) between December 2022 and December 2023. Glycomet GP reported sales of US$ 8.1 million (Rs. 67 crore) last month and US$ 93.5 million (Rs. 778 crore) since December 2022. Augmentin displayed a moving annual total (MAT) growth rate of 9.9%, while Glycomet GP recorded a growth rate of 6.6%.

Mankind's condom brand, Manforce, maintained its third position in December, demonstrating a MAT growth rate of 12.5% and posting sales of US$ 6.7 million (Rs. 56 crore) in December 2023. Despite the positive value growth, the Indian pharma market witnessed a modest unit growth of 2.2% in December, as Ms. Sheetal Sapale, Vice President-Commercial at PharmaTrack, highlighted.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.