Slowdown to pull down september quarter performance of pharma companies like GSK Pharma, Cipla, Ranbaxy – The Economic Times
While a weaker rupee has made the exports business appealing for pharma companies, the sustained slowdown in the domestic pharma market is going to pull down performance of Indian pharma companies in the September quarter. The Rs 72,000 crore Indian pharma industry has been facing slowdown since last one and half years. The industry posted its slowest growth of 1.1% in the month of August. This was followed by first ever negative growth of 1.8% in the month of September. Many India-centric companies, especially multinational companies, have been impacted due to this slowdown.
Implementation of the new drug pricing policy that has capped the ceiling price of many essential drugs has led to de-stocking by trade as well as industry. Besides, the continued slowdown in the anti-infectives segment, the largest segment in the market, has impacted the overall growth of the market.