Comments
Sales of pharma products to retailers grew by just 11.9 per cent in 2012-13, slower than the 15.8 per cent growth achieved last year. Data compiled by research firm AIOCD AWACS reveal this. After robust sales during the first half of the fiscal, there was a deceleration in drug demand beginning November 2012.
Fewer new patient additions for chronic therapies such as diabetes, the switch to unbranded generic drugs and slower pace of new product approvals impacted growth. For instance, the growth in anti-diabetes drugs fell from 26.8 per cent last year to 16.4 per cent in 2012-13.
Barring anti-malarials, the growth pace of drugs catering to most other therapies either stagnated or declined in 2012-13, against the previous year.
The sales of drugs used to treat respiratory ailments, pain, gynaecological disorders and seasonal infections slackened in 2012-13. For instance, respiratory drug sales grew at a slow 8.4 per cent last year. Similarly, anti-infective drugs which constitute 18 per cent of the industry grew at a lacklustre 9.8 per cent.
Despite the slowdown, some therapies managed to grow faster than the market. For instance, the demand for hormone supplements raced ahead of the rest. Other therapies such as sex stimulants and anti-malarial drugs grew ahead of the industry in 2012-13 (see Graph). Among the listed pharma companies, Cadila’s sales rose the most (20.8 per cent) in 2012-13. Sun Pharma (20.2 per cent) and Glenmark (18.9 per cent) figured among the most consistent performers, clocking robust growth during the same period. Merck and JB Chemicals also witnessed a pick-up in growth.
AstraZeneca Pharma, Orchid Pharma and Strides topped the loser’s list, posting sales declines of 20.6 per cent, 9.6 per cent and 8.1 per cent respectively for the year. Other listed companies that grew slower than industry include Piramal Healthcare (3.7 per cent growth), Elder Pharma (5.1 per cent) and Wockhardt (5.5 per cent).
> nalinakanthi.v@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.