India Ratings and Research (Ind-Ra) opines the 5.0% yoy revenue growth in India's pharmaceutical market (IPM) during October 2021 was due to price increases, as volumes were impacted due to lower COVID-19 product sales and a higher base impact.
"Acute therapies namely gastro-intestinal, respiratory and pain/analgesics continued to witnessed strong growth, aided by the low base impact. During October 2021, volumes declined 1.6% yoy (September 2021: 5.4% yoy), while price growth was 5.3% (5.7%) and new products launches were 1.4% (1.3%), driven by acute therapy products," the ratings agency has said.
Acute therapies such as anti-infectives, respiratory and pain/analgesics witnessed sales growth of 5.3% yoy, 26.3% yoy and 16.6% yoy respectively, while gastro grew 9.8% yoy during October 2021. A growth underperformance was observed in chronic therapies during the month, with cardiac declining 1.1% yoy and anti-diabetic reporting marginal 1.2% yoy growth.