Source: Business Standard, Feb 07, 2018
Ahmedabad: Home-grown pharmaceutical companies in 2017 saw some erosion in their edge over multinational peers in the domestic drug market. Tempering the past year’s trend of a significant lead, Indian drug firms grew at almost the same rate as their MNC counterparts.
While Indian pharma players clocked a 5.54 per cent growth rate during 2017, multinational ones grew at a shade higher (5.55 per cent rate), show data. This was partly because overall pharma growth slowed during the year, thanks to several factors, even as multinational companies saw a few months of high growth with specialised product launches.
According to data sourced from AWACS, the market research wing of the All India Organisation of Chemists and Druggists (AIOCD) which represents over 500,000 medicine sellers across the country, the Indian pharma market (IPM) clocked 5.5 per cent growth in moving annual turnover (MAT) value – the lowest rate in eight years.
In 2016, IPM had grown 10.68 per cent – home-grown companies, with 11.85 per cent growth, had beaten the industry rate, while multinational firms with a presence in the domestic market had clocked 6.42 per cent growth.
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