According to a recent report by Karvy Stock Broking, the Indian pharmaceutical market witnessed a growth momentum in April and May (2MFY13). The growth observed during these two months in key acute therapies, namely anti-infectives (+16.6 per cent y-o-y); GI (+16.5 per cent y-o-y), pain (+15.1 per cent y-o-y) and respiratory (+13.6 per cent y-o-y). Anti- diabetic (+29.8 per cent y-o-y), Cardiac (+18.8 per cent y-o-y) and vitamins and minerals (+19.6 per cent y-o-y) have reported a strong growth for 2MFY13.
Based on sales numbers sourced from the All India Organisation of Chemists and Druggists (AIOCD), the Karvy report analyses that overall, the growth for 2MFY13 for the period of April 2012 + May 2012 stood at 17.6 per cent, while growth for May 2012 was reported at 16.8 per cent y-o-y. Overall, the growth for the month has been lower than 18.4 per cent reported for April 2012.
Companies which witnessed higher than industry growth for 2MFY13 were Sun Pharma (+19.6 per cent), Glaxosmithkline (+23.1 per cent), Zydus Cadila (+21.0 per cent), Sanofi-Aventis (+17.8 per cent), Ipca Laboratories (+21.7 per cent), Indoco Remedies (19.8 per cent), Glenmark Pharmaceuticals (+33.6 per cent), Mankind (+22.1 per cent), Pfizer (+31.8 per cent) and Ranbaxy (+11.6 per cent).
In the same two month period, the companies which witnessed single digit growth include Dr Reddy’s Laboratories (+9.2 per cent) and Unichem Labs (+6.2 per cent).
Ranbaxy is the only company showing a wide negative divergence for May ’12 clocking only 4.7 per cent y-o-y growth while other companies showed growth ranging from 31.2 per cent (Pfizer).
The Minimum Alternate Tax (MAT) during May 2012 value growth has been 16.5 per cent. The growth has been on account of 8.6 per cent volume growth, 3.6 per cent price growth and 4.3 per cent on account of new product introductions.
Cipla’s key products, namely MTP KIT (gynaecology) and Asthalin (respiratory) showed lower momentum compared to 2MFY13 sales. GlaxoSmithKline’s Augmentin (key focus of National List of Essential Medicine (NLEM)) is growing above 35 per cent on a May 2012 and 2MFY13 basis. DRL’s NISE DRL which had witnessed degrowth on FY12 basis has started witnessing flat growth. Sanofi-Aventis’s Combiflam, which was earlier witnessing de-growth, has moved to flat growth territory.
EP News Bureau – Mumbai