Green shoots seen in June pharma sales as domestic market grows 2.4%

The turn around follows deep decline in sales in the preceding months; July sales likely to be flat

Green shoots are visible in the domestic pharma industry, following a sharp decline in sales during the first quarter. In June, the sector clocked 2.4 per cent growth after a near-9 per cent fall in May and 11 per cent slump in April.

Most therapies have posted good numbers, indicating a revival in demand. Industry insiders, however, claim that the early rains and the low base of June 2019 played a part.

According to market research firm AIOCD AWACS, the domestic market registered negative growth of 5.9 per cent for the June quarter. However, on a moving annual turnover (MAT) basis, there