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YoY IPM growth inches up on a MoM basis in Nov’21

* IPM growth was 6.6% YoY in Nov’21 v/s 5% YoY in Oct’21. IPM growth was 1% YoY in Nov’20.

* Pain/Respiratory/Gastrointestinal grew 17.3%/16.3%/13.1% YoY.

* At the Therapy level, YoY growth was dragged by Anti-Infectives (-1.1% YoY), VMNs (+0.9%), and Dermatology (+2.1%).

* Non-COVID drugs grew 6.7% YoY in Nov’21. COVID-therapy drugs grew 6.3% YoY in Nov’21.

For the quarter-ending Nov’21: Price led IPM growth

* For the quarter-ending Nov’21, growth was 8% YoY.

* Growth in price was 5.5% YoY, whereas the same in volume/new products was moderate at 1.3% each

On a MAT basis, Anti-Infectives, Pain/Analgesics, Gastrointestinal, and VMN drive YoY growth for the 12-months ending Nov’21

* On a MAT basis, industry growth stood at 15.2% YoY.

* Anti-Infectives/Pain/Gastrointestinal grew 26.4%/22%/21.5% YoY.

* Vaccines sales declined by 12.5% YoY, impacting overall growth.

* Respiratory posted strong YoY growth in May-Nov’21 and has outperformed IPM on a MAT basis.

* On a MAT basis, COVID/non-COVID drugs grew 27.6%/8.9% YoY.

Mankind, Ipca, and Torrent are the top performers in Nov’21

* Among the top 30 corporates, Mankind Pharma (+24.7% YoY), Ipca Laboratories (+24.7%), Torrent Pharmaceuticals (+19.1%), Ajanta Pharma (+17.4%), Macleods Pharmaceuticals (+17.4%), Sun Pharmaceutical (+15.4%), Aristo Pharmaceuticals (+13.9%), Eris Lifesciences (+13.3%), Micro Labs (+12.7%), and Intas Pharmaceuticals (+11.4%) grew notably higher than IPM growth.

* With a reduction in the number of COVID cases, sales for Glenmark Pharmaceuticals declined by 18% YoY in Nov’21.

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