**Indian Pharma Market Reports Double-Digit Growth In December**
After the lows of October, India's pharmaceutical market grew by more than 10% for the second straight month in December. Industry sales rose 10.4% year-on-year in December against a 5.3% year-on-year increase in December 2021 and 17.3% growth in November this year, according to data from the All Indian Origin Chemists and Distributors.
“The Indian pharmaceuticals market continued to deliver a healthy growth in December 2022, driven by robust performance in five out of ten therapies, which comprise 86% of the pharma market," said Krishnanath Munde, associate director at India Ratings.
"Price has been the key growth driver of the overall market performance in December 2022," Munde said.
**Key Highlights**
- Volumes grew by 1.4% year over year versus a decline of 1.5% last year.
- New product launches registered 2.2% growth, compared to 1.4% year-on-year.
- Prices increased by 6.8% year-on-year. That compares to 5.4% last year
India Ratings expects the overall market to grow in the 9–10% range during the remaining three months of this fiscal. This is in line with the industry's 9.1% average year-on-year growth in the first nine months of FY2023.
Commenting on the overall near- to mid-term outlook, India Ratings expects the Indian pharma market to grow in the range of 10%–13% year-on-year, Munde told BQ Prime.
**Therapy-Wise Growth**
- As per AIOCD data: Sales of respiratory products rose the most by 19%, followed by 15% growth in the anti-infectives segment.
- Vitamins, gynaecological products, and the pain segment reported year-on-year growth of 12%, 11%, and 10%, respectively.
- Dermatological and neurological/CNS segments grew 8% over the year-ago period, while cardiac and gastroenterology segments grew 7%.
- The anti-diabetic segment reported the lowest growth at 4% year-on-year.
**MAT Performance According to AIOCD, the moving annual total—or 12-month rolling sales—of overall pharma products rose 8% in December**
**Company Performance**
The performance of some key listed pharmaceutical companies based on AIOCD data- 'Higher-Than-Market' Growth
- FDC Ltd. reported the highest year-on-year growth of 24% in December, followed by Alkem Laboratories Ltd.'s 17% and Alembic Pharmaceuticals Ltd.'s 16% year-on-year growth.
- Cipla Ltd., Eris Lifesciences Ltd., and Abbott India Ltd. grew 14%, 13%, and 12%, respectively, over a year ago.
- Glenmark Pharmaceuticals Ltd. and JB Chemicals & Pharmaceuticals Ltd., too, outperformed the market with 11% year-on-year growth.
**'In-Line With Market' Growth**
- Torrent Pharmaceuticals Ltd., GSK Pharmaceuticals Ltd., and Indoco Remedies Ltd. reported 10% growth in line with market performance.
- 'Lower-Than-Market' Growth Zydus Lifesciences Ltd. and Dr. Reddy’s Laboratories Ltd. reported a growth of 9%.
- While Sun Pharmaceutical Industries Ltd. and Ajanta Pharma Ltd. reported growth of 6% and 5%, respectively, Lupin Ltd. and Sanofi India Ltd. reported low single-digit growth of 2% and 1%, respectively.
- Pfizer Ltd. underperformed, reporting no growth over last year, while Ipca Laboratories Ltd. reported a 3% decline in its growth.