Pharma sector cries foul over GST hit on July sales

Sun Pharmaceuticals portfolio came down by 6.5%, Ranbaxy portfolio fell by 4.5%

The pharmaceutical sector has seen a decline in sales in July 2017. 

The All India Organisation of Chemists  and Druggists (AIOCD) data shows that the sector registered a negative growth of 2.4 per cent and sales worth Rs 9,280 crore for the month of July, as compared to last month, due to the impact of the goods and services tax. This is as compared to 7.52 per cent positive growth in June. 

In fact, the sector has seen downward growth for the last three quarters due to external factors, AIOCD said. 

Some of the therapies that saw negative growth are anti-infective, vitamins and