"The Indian Pharmaceutical industry plays a prominent role in the global pharmaceutical industry," it said adding, India is ranked 3rd worldwide in the production of pharma products by volume and 14th by value.
In 2021, the market had shown a growth of 14.9%, primarily because of a low base, and the high volume offtake of Covid-19 and related medications such as anti-infectives, vitamins and drugs for gastrointestinal and respiratory problems, pain and fever.
The company said that globally also, COVID-19 related quarantines and shutdowns led to deferment of elective medical procedures and patients remaining less engaged with healthcare, resulting in delayed diagnosis and treatment, especially for those conditions which were asymptomatic.
With the year 2021 coming to an end, the industry can be seen realigning efforts towards developing cures and treatments for other diseases that went on the backtrack with the emergence of COVID.
The domestic pharmaceutical market delivered a robust growth of nearly 18% in August, buoyed by sales of acute therapies.
The growth would have been stronger on an adjusted basis, it said. Acute therapies like anti-infective and vitamins benefitted significantly due to the second Covid wave as these therapies have a direct and indirect role in treatment of patients.
South Asia’s largest pharma industry event organised by Informa Market, recently held at the India Expo Mart - Greater Noida, featured top industry leaders from pharma across the globe with 1,600 exhibitors from 44 countries
The study shows insulin availability in Bengaluru’s public hospitals is way behind World Health Organization’s (WHO) 80% target.
The National Pharmaceutical Pricing Authority (NPPA) has asked companies to submit the required documents to avail the annual price hike based on wholesale price index (WPI).
Retailers say people used old Rs 500 and Rs 1000 notes to buy such medicines which are used regularly and hence their stocks can be used for a long time.
Shares of Nutraplus India closed at Rs 85.70 per scrip on.
Get updates on your preferred social platform
Follow us for the latest news, insider access to events and more.
