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IPM grew 6.4 per cent YoY to Rs 72 billion in March 2016: Motilal Oswal

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Lupin, Sun Pharma and Mankind reports the highest growth in March 2016

Motilal Oswal’s sector update report of Indian Pharma Market (IPM) states that IPM grew 6.4 per cent YoY to Rs 72 billion in March 2016, much lower than the last month growth of 12 per cent YoY. Moving annual (MAT) growth for March 2016 stood at 12.6 per cent YoY, primarily driven by volumes with 5.2 per cent YoY growth. Pricing growth was at 4.7 per cent and new products growth was at 2.8 per cent for MAT March 2016. Lupin, Sun Pharma and Mankind reported the highest growth in March 2016.

Lupin registered 20.6per cent growth, continuing the growth momentum for last two months with X per cent growth in February and Y per cent growth in January. Sun Pharma also reported double digit growth (12.3 per cent) though much lower than the last month growth of 20.6 per cent.

Other companies that grew ahead of IPM are Mankind (11.9per cent), Glenmark (10.4per cent), and Alembic (8.1per cent).

However, Sanofi (-0.8 per cent YoY), Alkem (-1.2 per cent), GSK Pharma (-6.1 per cent) and IPCA (1.5per cent) significantly underperformed the market growth. Neuro/CNS led in therapies and Sanofi’s Lantus in drugs.

Neuro/ CNS therapy accounts for 6 per cent of the IPM market; it grew 13.8 per cent YoY in March 2016. Other therapies that outperformed the market growth were cardiac (12.2 per cent), derma (13.3 per cent) and anti-diabetic (13.2 per cent). Within brands, Lantus registered the highest growth (41 per cent) in March 2016. Other big brands which reported growth in excess of 25 per cent were Synflorix, Betnovate N, Rosuvas and Telma.

In value terms, DPCO-listed products grew -0.1 per cent YoY whereas non-DPCO products registered 7.2 per cent YoY growth. Volume-wise, DPCO registered unit growth of -2.4 per cent and non-DPCO -4.3per cent.

EP News BureauMumbai

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