The Indian pharmaceutical market registered a double digit growth of 13.9% in April, 2013 at `6,744 crore, according to IMS Health. Interestingly, local companies have grown relatively stronger at 15.1% than multi-nationals.
“April, 2013 has witnessed an excellent market performance by the pharma industry, registering all around healthy growths -- be it acute or chronic therapies, local companies or MNCs,” IMS report said.
The sector will continue to face challenges including the implementation of DPCO, 2013. “While the bigger pharma firms would take the major brunt of the erosion due to those drugs under the NLEM, they would be able to mitigate the drop in profits by higher volumes due to greater market reach and brand value,” it said.