India pharma sector growth slows in November on lower volumes

Pfizer

11/12/2023 06:50

** India's pharmaceutical sector growth slowed to 2.9%
year-on-year in November from 13.7% in October as volumes drop,
data from All India Origin Chemists and Distributors (AIOCD)
showed
    ** Volumes in November down 4.5% year-on-year after rising
5% in the previous month
    ** Dermatology and opthalmology segments witness fall in
sales while anti-infectives, cardiac, respiratory segments see
rise in sales in November
    ** Eris Lifesciences  ERIS.NS , Cipla  CIPL.NS , Torrent
Pharmaceuticals  TORP.NS , Sun Pharmaceutical Industries
 SUN.NS  and Glenmark Pharmaceuticals  GLEN.NS  see sales uptick
of 7% to 11%, outperforming the Indian pharma market
    ** FDC  FDC.NS , Alembic Pharma  ALEM.NS , GlaxoSmithKline
Pharmaceuticals  GLAX.NS  and Mankind Pharma  MNKI.NS  
underperform the industry, in terms of November sales
    ** Pfizer  PFIZ.NS  sees sales decline of 11.9% while Sanofi
India  SANO.NS  posts 5.7% monthly sales drop
    ** Nifty pharma index  .NIPHARM  down 0.9% on the day,
dragged by 5% drop in Dr. Reddy's Laboratories  REDY.NS  on U.S.
drug regulator's observations on the drug maker's facility at
Hyderabad
    ** Pharma index up 27% in 2023 so far, compared with 16%
rise in Nifty 50 index  .NSEI  

    

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Indian pharma market growth slows in November    https://tmsnrt.rs/3t4SknU
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))