The domestic pharmaceutical market (IPM) grew 21.9 per cent to record sales of Rs 5,369 crore in March, compared to the year-ago period, going by an analysis done by market research firm AIOCD AWACS. Its latest market intelligence report suggests this was fuelled by exceptional growth in companies such as Mankind, Macleods and Micro Labs.
While Mankind recorded a growth of 32.6 per cent to record sales of Rs 194 crore, Macleods (Rs 132 crore) and Micro Labs (Rs 109 crore) grew 40 and 45.1 per cent, respectively.
Abbott, with its subsidiaries Abbott Healthcare and Solvay, registered sales of Rs 306 crore to retain its number one position in the domestic market. The other market leaders were Cipla, GSK and Sun Pharma with sales of Rs 280 crore, Rs 254 crore and Rs 255 crore, respectively.
Around 12 companies among the top 20 registered a growth of a little over 20 per cent, the agency’s data revealed.
“The Indian pharmaceutical market keeps on surprising many,” pointed out Hari Natarajan, head (pharma trac), AIOCD AWACS. “This month has not been an exception, with the highest growth of 21.9 per cent growth for March.”
Ranbaxy, the country’s largest pharmaceutical company in terms of turnover, was sixth in domestic sales. The company’s sales grew 19.2 per cent to Rs 229 crore in March. Group companies Zydus and Biochem together recorded Rs 238 crore sales and remained just above Ranbaxy in overall ranking.
Alkem, Pfizer and Lupin were the other companies in the top 10 list.
