Indian drug formulation market grew at 15.3 percent in August: Report

Mumbai : The domestic formulation drug market grew by 15.3 per cent in August to Rs 9,643 crore over the corresponding month last year.

The growth was driven by 9.1 per cent expansion in volumes, 2.9 per cent rise in prices and 3.3 per cent in new launches, according to the data compiled by pharma market research company AIOCD AWACS.

Indian companies grew by 17.1 per cent against 9 per cent growth for MNC pharma companies during the month.

Amongst the top 50 MNCs, Janssen grew by 23.2 per cent followed by Sanofi at 13.4 per cent and Abbott at 12.6 per cent over the same month last year.

Among the top 50 Indian corporates, Centaur had the highest growth rate at 42.5 per cent followed by Bharat Serums at 34.4 per cent, Apex at 34 per cent and Indoco Remedies at 33.7 per cent.

Following the regulatory ban on fixed dose combination, this segment showed a huge volume de-growth of 16.8 per cent. In revenue terms, Indian companies degrew by 11.1 per cent in the FDC portfolio whereas the MNCs degrew by 16.1 per cent, the data said.