Cipla, Sun Pharma, Mankind among key Indian pharma market growth leaders during the month of January
Also Read-Glenmark Pharma share price jumps over 6% after Q3 result Bulk of the IPM growth in January 2024 was largely driven by therapies such as immunomodulators, hepatoprotectives, antivirals, cardiac and urology. However the softer growth rate in acute range is also attributed to high base and seasonal factors in January.
On moving twelve months basis Indian Pharma market growth at 10.1 % still remains strong. “Buoyed by improved field-force productivity across most companies, price hikes, new launches and higher sales from other channels, we continue to bake in an 10-13% organic domestic sales growth in FY2024 (estimated) for our coverage, except for Dr Reddy's Laboratories, where we bake in a 2% yoy decline.]" said analysts at Kotak Institutional Equities.
Sun Pharmaceuticals , Cipla and Mankind are their preferred picks in the pharma sector. Also Read-Adani Green share price extends gains into second consecutive session, jumps 6%; here's why Growth leaders in January 2024 as per Kotak Institutional equities report were Ipca Laboratories, Sanofi, JB Pharma, Ajanta Pharma, Abbott, Cipla, Eris Lifesciences , Mankind and Sun, which posted growth in the 9-14% year-on-year range.
Key underperformers were Pfizer and Micro Labs, which posted 0-3% y-o-y decline as per the report. The domestic growth remains important for companies as they provide a cushion in case of volatility in international sales.
Though currently US sales remain strong for Indian pharma companies having exposure to the region, the sales in rest of world apart from developed markets is seeing lot a volatility and currency headwinds too. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not
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