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Acute therapy witnesses healthy revival

* The India pharma market (IPM) grew at a strong rate of 11.5% YoY in Jun’25 (vs. 7% in Jun’24 and 6.9% in May’25).

* The growth was driven by a strong show in Respiratory/Cardiac/CNS/Pain therapies, which outperformed IPM by 740bp/330bp/30bp/30bp YoY in Jun’25.

* Acute therapy growth stood at 11% in Jun’25 (vs. 7% in Jun’24 and 5% May’25) owing to seasonality. Notably, Anti-infectives showed considerable recovery in YoY growth in Jun’25 vs prior months.

* For the 12 months ending in Jun’25, IPM growth was led by price/new launches/volume growth of 4.2%/2.3%/1.5% YoY.

* In Jun’25, out of the top 10 brands, Electral/Udiliv/Pan clocked 32%/20%/17% YoY growth to INR660m/INR570m/INR640m.

* Mixtard witnessed a decline of 13% to INR570m in Jun’25.

* Out of the top 40 brands, Mounjaro achieved a largely stable monthly sales run rate of INR490m in Jun’25.

JB Chemicals/Glenmark/Intas/Mankind outperform in Jun’25

* Among the top 20 pharma companies, Glenmark (up 19.6% YoY), JB Chem (up 15% YoY), Intas (up 14.3% YoY), and Mankind (up 14.1% YoY) recorded higher growth rates vs IPM.

* Alembic/Eris were the major laggards (YoY growth of just 4.5%/4.9%).

* Glenmark outperformed IPM, led by strong double-digit growth across key therapies like Cardiac/Respiratory.

* JB Chemicals outperformed IPM, led by a strong show in Cardiac/Ophthal/Antiparasitic.

* Mankind outperformed IPM, led by double-digit growth in Cardiac/Antiinfectives.

* JB reported industry-leading price growth of 6.6% YoY on a MAT basis and the highest volume growth of 5.5% YoY. Corona Remedies posted the highest growth in new launches (up 5.4% YoY).

Cardiac/CNS/Derma lead YoY growth on MAT basis

* The industry reported 8% YoY growth on a MAT basis.

* Chronic therapies witnessed 10% YoY growth, while acute therapies posted 6.8% YoY growth for 12M ending Jun’25.

* Cardiac/CNS/Derma grew 11.8%/9.1%/8.6%YoY. Anti-infectives/ Respiratory underperformed IPM by 290bp/250bp on a YoY basis.

* The acute segment’s share in overall IPM stood at 60.8% for MAT Jun’25, with YoY growth of 6.8%.

Domestic companies outperform MNCs in Jun’25

* As of Jun’25, Indian pharma companies hold a majority share of 84% in IPM, while the remaining is held by multi-national pharma companies (MNCs).

* Indian companies grew 11.6% in Jun’25, while MNCs grew 11.2% YoY.

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