India Pharma - Growth In Non-Covid-19 Therapies Slower In October, IPM Growth Moderates Further: Motilal Oswal

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Motilal Oswal Report

Indian pharma market growth stood at 5% YoY in October 2021 versus 12.4% YoY in September 2021 and 9.6% YoY in October 2020. 

Respiratory/analgesics/gastrointestinal grew 26.3%/16.6%/9.8% YoY.

At the therapy level, YoY growth was dragged down by vitamins-nutrients-minerals (down 3.7%), cardiac (down 1.1%), dermatology (up 0.6%), and diabetes (up 1.2%).

Non-Covid-19 drugs grew 3.6% YoY in October 2021. Covid-related therapy drugs grew 7.7% YoY.

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