Covid pushes India’s Pharma industry growth to 59% in April

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New Delhi, May 15 | The fresh wave of Covid-19 in the country has pushed up sales of medicines and resulted in exponential growth for the pharmaceutical sector.

According to total sales audit data from world’s largest pharmaceutical market research firm IMS Health, the Indian Pharma Market (IPM) grew 59 per cent yoy in April, 2021 vs 16 per cent yoy in March, 2021 due to the low base effect in April, 2020 and sharp surge in Covid-19-related sales.

On the MAT (moving annual turnover) basis, IPM grew 9.6 per cent, primarily driven by pricing growth of 4.3 per cent and new product launch growth of 4.6 per cent. Volume growth was muted at 0.8 per cent.

According to a report from Emkay Global Financial Services, all major therapies posted high double-digit growth in April 21.

Within Chronic therapies, Cardiac therapy grew 22 per cent. Similarly Anti-diabetic therapy grew 10 per cent. VMS (vitamins, minerals and supplements) posted record growth of 80 per cent in April 21 vs 27 per cent in March 21.

The growth in respiratory therapy rebounded sharply at 64 per cent in April 21 after falling for nine consecutive months.

As per the brokerage, DRL grew the fastest at 79 per cent yoy followed by Cipla (77 per cent yoy) and Cadila (53 per cent yoy). Sun Pharma, Lupin and Ipca Labs reported growth of 30-52 per cent yoy.

Other notable outperformers are Glenmark (172 per cent), Aristo (77 per cent), Macleods (69 per cent), and Alkem (82 per cent).

While IPM growth could be strong in the next couple of months, driven by surging Covid-19-related sales and likely impact of stocking up, we believe growth could normalize as Covid-19 would delay normalization, Emkay said.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

On a weekly expiry day, Nifty opened on positive note and have a dip to make an intraday low at 15367.50 level but showed bounce back moment as managed to close at 15556.65 level with a gain of 143 points. Bank Nifty closed the session at 33135 level with a gain of 289.70 points. 45 Out of Nifty 50 ended in green which suggest broad based buying.

All the sectoral indices managed to close in green expect Energy while Nifty Auto was top gainer. Among Nifty Stock, MARUTI, EICHERMOT, HEROMOTOCO & M&M were the top gainers, While RELIANCE, COALINDIA, POWERGRID & GRASIM were the prima laggards. India VIX closed at 20.88 level with a loss of 1.97%. On Technical Front, The Nifty has formed bullish candle but faced resistance at 21 Four-Hourly Moving Average i.e., 15647 which suggest crossing above the same can show more upside rally.

Nifty has been trading in range of 15200-15700 level while breaching either side can suggest further direction of breakouts. Nifty has given above 50-Hourly Moving Averages which indicate it can show upside moment in the counter. On the Nifty OI Data, On the call side ,the highest OI witnessed at 16000 level while on the put side was at 15500 Niftg level followed by 15300 levels. The momentum indicators Stochastic is trading with a positive crossover on a daily chart which suggest northward journey in the Nifty.

The Nifty may find support around 15200 levels while on the upside 15700 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 32300 levels while resistance at 33800 levels.

Overall, Sector specific momentum has been observed, crossing above 15700 Nifty can show more upside rally.

Market entering into buy on dips pattern.

Palak Kothari
Senior Technical Analyst
Choice Broking

Source: Choice India

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The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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