Dip in demand for Covid medicines takes a toll on drug sales in March

Covid related drugs contributed 40% of the pharma market last year

The dip in demand for Covid-19 drugs, which roughly contributed to 40 per cent of the Indian pharmaceutical market (IPM) during the pandemic period, has dragged down the overall growth of the domestic drug market in March. The IPM recorded a two per cent decline in value growth and a 9.4 per cent decline in sales volumes in March, according to Awacs data.

Monthly sales in March were Rs 12,932 crore, showed the data. The strong demand for drugs in March 2021, when India was going through the second wave of Covid infections, has led to a high base effect