India's pharma market dips to a 2-year low in May

NEW DELHI: The Indian pharmaceuticals market's growth this May has been the lowest in two years, impacted by a drop in sales of fixed dose combination drugs, fresh price cuts and a lower-than-expected uptake, according to pharmaceutical market research company AIOCD PharmaTrack.

For May, the pharmaceuticals market grew by 7.7% compared to 11.6% during the same month last year, reaching sales of Rs 99,476 crore over a 12-month period based on Moving Annual Total (MAT), according to an agency release.

The country's FDC market dropped 14.6% and is now valued at Rs 196 crore and anti-infectives, derma and respiratory were the worst-hit segments, it added. Fixed dose combination (FDC) drugs are products that have a combination of two or more therapeutic ingredients in a single dose.

Indian drug makers were more affected by the drop in volumes in FDCs than multinational drug makers in the country, according to PharmaTrack.

At the same time, products other than FDCs grew at 8.4%, showing a slightly better growth rate in May than for the month of April, the firm added.

Sales of FDCs have seen a drop since March, when the Indian health ministry released a gazette notification banning the immediate manufacture, sale and distribution of 344 combination drugs.

Over 100 combination drug makers, including Pfizer, Abbott, Sanofi, Cipla and Dr Reddy's, have challenged the government's decision to ban such products at the Delhi High Court.

After hearing the arguments of the companies, pharmaceutical associations and the government, the case has been reserved for a decision.