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Dr Reddy’s, Ipca among outperformers in pharma market in September

13 Oct , 2021   By : Kanchan Joshi

Dr Reddy’s, Ipca among outperformers in pharma market in September

The Indian pharma market (IPM) continued to see healthy double-digit growth of 12.4% year-on-year in September. The growth rate however eased compared to around 18% jump seen in August.

The growth in September was led by a rebound in the acute segment. The segment had seen subdued sales growth in 2020 and it had kept the IPM growth modest during the year. The acute segment sales clocked a 17.6% year-on-year growth during September. Chronic therapies, on the other hand, grew 7.3% YoY.

Among therapies, respiratory, analgesics, gynaecology segments were outperformers, exhibiting a growth of 45.8%, 28.1%, 17.3% YoY respectively during the month. Cardiac, diabetes, vitamin and minerals segments disappointed with a modest 2.7, 6.8% and 2.4% growth respectively, as per analyst reports.

New product launches declined in the month, clocking a growth of 2.5% year-on-year, while volume and price growth of 6.3% and 5.8% YoY supported the IPM momentum.

Among companies, Dr Reddy’s Laboratories Ltd and Ipca Laboratories Ltd stood amongst the outperformers with 34.9% and 19.8% year-on-year growth. Ipca posted a strong offtake in pain products (Zerodol franchise that contributes 32% of sales), which grew 42%, said analysts at Motilal Oswal Financial Services Ltd. Dr. Reddy’s growth was supported by the respiratory segment (11% of sales), growing at 57% YoY.

Among the top 30, Indoco Remedies Ltd, Wockhardt Ltd reported 36.7% and 31% year-on-year growth respectively.

With a decline in Covid-19 cases, Glenmark Pharmaceuticals’ sales declined 19% YoY in September. Lupin, Cipla, and Cadila Healthcare also recorded lower than industry growth during September.

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