India's pharmaceutical market expands by more than 9% in December.

10 Jan 2024 , 08:28 AM

Major medicines had a double-digit increase in December, contributing to the pharmaceutical market’s healthy 9.2% value gain.

According to data from research firm PharmaTrac, among the top therapies, cardiac, anti-infectives, and neuro/central nervous system have seen a substantially larger volume growth last month. The best-selling medication brands remained to be the antibiotic Augmentin and the diabetes medication Glycomet GP.

‘The market has undoubtedly displayed excellent and motivating value increase for December. Price, volume, and new introductions—the three growth levers—are all good for the month, according to Sheetal Sapale, vice president of commercial at PharmaTrac, who talked to ET.

Sales for Augmentin totaled Rs 76 crore in December, as per information from the business’s research report. The total sales between December 2022 and December 2023 were Rs 804 crore.

Sales for Glycomet GP were Rs 67 crore in the previous month and Rs 778 crore starting in December 2022.

Glycomet GP has a moving annual total (MAT) growth rate of 6.6%, compared to 9.9% for augmentmentin.

Manforce, a condom brand owned by Mankind, maintained its third-place ranking in December with a 12.5% MAT growth rate. In December 2023, it reported sales of Rs 56 crore.

According to Sapale, the Indian pharmaceutical market saw a 2.2% unit growth in December, which is still quite low.

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