Pharma sales up 4.5%

The domestic pharma industry marked a revival in September by clocking 4.5 per cent growth in sales, riding on cardiac, anti-diabetic, and vitamin drugs.

In August, the market had clocked negative growth of 2.2 per cent, while July growth was little changed at 0.2 per cent. In fact, barring June (which witnessed growth of 2.4 per cent), the domestic pharma market has been in negative terrain since the beginning of this financial year. March had seen 9 per cent growth thanks to panic buying of chronic medicines.

Cardiac and diabetic medicines have been the bellwether for the pharma industry over the last few months as patients seldom miss their regular medications. Cardiac therapy grew 17.1 per cent in September, compared to 11.5 per cent growth in August. Anti-diabetics, too, bettered its growth rate from 1.6 per cent in August to 6.5 per cent in September.

Vitamins, too, have shown strong growth as people go for immunity-boosting vitamins and minerals like zinc supplements and vitamin C. It clocked a strong 16.3 per cent growth rate in September. Other therapy areas, however, posted negative growth — respiratory (10.5 per cent), pain and analgesics (-4.3 per cent).

Sudarshan Jain, secretary general of the Indian Pharmaceutical Alliance (IPA) that represents the top drug makers, felt patients have started coming back to clinics, and are re-calibrating their chronic medicine doses. “Clinic footfalls are now back at almost 70 per cent of what they were in January. Patients cannot delay their doctor meets any further, and we expect this trend to continue,” he said.

Jain added that the first two quarters had been in negative growth territory for the financial year, and that the domestic market would need to build on this growth momentum to end the year on a positive note.

Companies selling Covid drugs are doing well — Glenmark and Cipla have clocked robust growth rates in September and also for the quarter. Cipla saw sales grow 15.7 per cent in September.

Apart from remdesivir, it also sells tocilizumab exclusively in India under a licensing agreement with Roche. Glenmark sells favipiravir, the oral medication for mild to moderate Covid patients. In comparison, companies such as Sun Pharma, which are strong in chronic segments like cardiac, are registering negative growth rates.

The industry, however, feels that fresh prescriptions are getting generated as tele-medicine gains a foothold.