India's pharma market showing healthy growth, and domestic drugmakers making forays into USA and Europe

Chronic therapies, especially anti-diabetic and cardiac care are helping the Indian pharmaceutical market notch up healthy growth figures. Drug companies are also leveraging on new acquisitions in the USA and European markets, and existing product pipelines that include potential launches of molecules going off-patent in the New Year, reports The Pharma Letter’s India correspondent.

Recording high volume growth, the chronic therapy portfolio in the Indian pharma market has been outperforming the acute therapies market for the last couple of years, growing at a rate of over 14%. The Indian pharma market grew 15.3% year-on-year to $1.37 billion (94 billion rupees) in November 2016, compared to 8.3% YoY in October 2016, according to data by market research firm AIOCD-AWACS. In November 2015, growth was pegged at 9.8%.

Anti-diabetic products have been dominating the Indian drug market. Mixtard from Abbott India was the top selling drug, clocking 27.3% growth in November, while Glycomet GP from USV was the second most sought after anti-diabetic medication in November 2016, registering 43.1% growth.