Indian pharma market resumes growth trend

India's domestic drug market bounced back to growth in November. After clocking just 5.1% expansion in October, India's domestic pharma market registered 14.5% year-on-year growth in November.

A low base coupled with an early festive season helped pharmaceutical sales rise to $1.77 billion in November, with sales of most Indian drug manufacturers outpacing their foreign peers.

Data from market research firm AIOCD-AWACS showed that, in November last year, the domestic market saw 7% growth. In terms of moving annual turnover (MAT), November growth was 9.8%.