From DRL to Glenmark, pharma companies see steady revenue growth in Russia

Strong sales in Q4 during war aided by 'stocking up of inventory'

The Russia-Ukraine war has not dampened Indian pharma sales in that market. In fact, firms with a presence in Russia — Sun Pharmaceuticals, Dr Reddy’s Laboratories (DRL), and Glenmark — have posted high double-digit revenue growth during the ongoing crisis.

DRL, for example, posted revenues of Rs 686 crore for Q4, a year-on-year growth of 70 per cent. “Growth majorly attributable to traction in base business and new product launches. Q4 partially benefited due to stocking up and divestment of two non-core brands,” DRL said.

India’s largest drug maker by market share Sun Pharmaceutical Industries has posted a 43 per cent YoY