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Aided by double-digit sales growth across therapies, except anti-infectives, Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the Indian pharmaceutical market (IPM) continued to deliver healthy sales growth for the third consecutive month at 12.1% mom (month on month) in August 2022. This is despite the higher base impact (August 2021 growth at 18.1% yoy).

According to the report, COVID-19 influence had reduced drastically by July 2021 and hence most of the therapies had started following the normal seasonal trends. Most key therapies holding onto strong growth (yoy basis), such as cardiac (14.7%), gastro-intestinal (13.8%), derma (13.5%), respiratory (18.7%), CNS (15.1%), gynaec (18.6%) and anti-neoplastics (23.1%), reported a robust performance, except low single-digit growth in anti-Infectives (1.9%).

Ind-Ra further noted that despite the weak performance from February to May 2022, the acute therapy segment reported a healthy recovery in August 2022. Post normalisation of the high growth months of April 2021 (51.5% growth) and May 2021 (47.8%), led by the lockdown-related lower base last year and higher volume growth, the average IPM growth from June 2021 to January 2022 was healthy at 11.1% yoy, while the average IPM growth was at 4.7% during February to August 2022.