India Ratings and Research (Ind-Ra) opines a 13.9% yoy revenue growth in India's pharmaceutical market (IPM) during January 2022, was due to a strong growth in acute therapies such as anti-infectives, respiratory and pain/analgesics aided by the low base impact, while chronic therapies reported slower growth. During January 2022, volumes grew 5.3% yoy (December 2021: down 1.5% yoy), price growth was 5.8% (5.4%) while new products launches were 2.8% (1.4%), driven by acute therapy products.
Ind-Ra expects the demand for analgesics, multivitamins, and cough and cold segments to improve over the next three months, owing to seasonality and the third wave of Covid-19 infections. Ind-Ra expects IPM revenue growth of over 12% yoy for FY22. The IPM reported growth of 14.9% yoy in 2021.
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