Indian Pharmaceutical Market: Glaxo Smith Kline’s antibiotic medicine Augmentin and USV’s anti-diabetes drug Glycomet GP continue to outperform in sales.
Introduction
In February, the Indian pharmaceutical market witnessed a significant increase in value, indicating positive trends across major therapeutic categories. This article explores the noteworthy developments in various segments of the pharmaceutical industry during the month.
Positive Growth Trends
The latest data from research firm PharmaTrac reveals a 9 percent rise in the Indian pharmaceutical market’s value.
Notably, therapeutic categories such as cardiac, anti-infective, and anti-neoplastic systems showcased substantial volume growth, contributing to the overall positive trend.
Challenges in Unit Growth
Despite the value increase, the market faced challenges in achieving significant unit growth, with only a modest 0.2 percent growth rate observed. This underscores the need for strategic approaches to drive volume growth across different therapy areas.
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Performance of Therapeutic Categories
Cardiac, Anti-Infective, and Anti-Neoplastic Systems: These categories demonstrated notable volume growth, attributed to factors like new product launches and effective pricing strategies. However, the respiratory segment experienced a decline in unit growth rate (-11.7 percent) following a surge during the winter months.
Top-Selling Medicine Brands
Augmentin and Glycomet GP: Glaxo Smith Kline’s Augmentin and USV’s Glycomet GP retained their positions as the top-selling medicine brands. Augmentin achieved sales of Rs 77 crore in February, while Glycomet GP recorded sales of Rs 66 crore.
Manforce Condom Brand: Mankind’s Manforce condom brand reclaimed its third position in February, exhibiting a MAT growth rate of 5.2 percent. With sales of Rs 57 crore, it replaced Cipla’s Foracort inhaler in the respiratory segment.
Remarkable Performance of Rybelsus
Abbott’s Rybelsus: The Type 2 diabetes/weight management drug Rybelsus demonstrated remarkable triple-digit value growth (118.5 percent) and unit growth rate (115 percent). Sales reached Rs 34 crore in February 2024, reflecting consistent robust growth.
Conclusion
The Indian pharmaceutical market’s positive performance in February underscores its resilience and potential for growth.
Despite challenges in achieving significant unit growth, strategic initiatives and innovative approaches by pharmaceutical companies continue to drive progress and expansion in the industry.
