Pharma growth tapers in India as COVID-19 impact plays out
As the impact of COVID-19 continues to play out in India, pharmaceutical growth has tapered, with the Indian pharmaceutical market registering a sharp decline in sales at minus 11.7% year-on-year (YoY) in April.
From supply disruptions (including reduced manpower at factories and logistic issues) to demand disruptions (lack of new diagnosis, delay in elective surgeries in hospitals, high demand for COVID-19-related drugs) there were multiple factors at play, reports The Pharma Letter’s India correspondent.
The worst hit among the top 20 companies was Cipla (BSE: 500087), whose sales slumped by 28%, while that of Zydus Cadila, GlaxoSmithKline (LSE: GSK) and Dr Reddy’s Laboratories (BSE: 500124) was each down by 25%.
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