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A n t i - i n f e c t i v e s , G I r e s t r i c t o v e r a l l g r o w t h …
For the quarter ended September 2011, Indian domestic formulations
grew at 13.2%, their slowest growth since September 2010 according to
latest AIOCD data. This was on account of a dismal show by some acute
therapies. The growth rate has come down from 17.6% in Q2FY10 and
14.9% in Q1FY12.
Anti-infectives, the biggest therapeutic group (~18% share), was the
main dragger. It grew by just 6.8% during the quarter. Other major
laggards were respiratory, gastrointestinal (GI) and anti-inflammatory
which grew by 8.3%, 9.7% and 11.4%, respectively. The reasons cited
by industry players for slower growth in anti-infective were severe
pricing pressure on account of stiff competition from new domestic
players and existing MNCs, maximum attrition among medical
representatives (MRs) due to heavy poaching, extended monsoons and
lower offtake. Similar reasons were sited for tepid growth in other
laggards. Only two acute categories vitamins\minerals and dermatology
clocked above average growth rate. On the upside, chronic segments
such as cardiovascular (CVS), anti-diabetic and neuro/CNS did well and
grew by 19.4%, 24.9% and 14.8%, respectively.
Among players, Pfizer, Sun Pharma and Lupin registered strong growth
of 24.1%, 20.5% and 19%, respectively. Both Sun and Lupin did well in
acute as well as chronic therapies. Pfizer was a standout gainer in an
otherwise muted anti-infectives segment. On the downside, Unichem
(negative growth), Indoco Remedies and Dr Reddy’s reported paltry
growth on account of pressure in acute therapies. Torrent, Ipca, Zydus
Cadila and GSK also reported muted numbers.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
A n t i - i n f e c t i v e s , G I r e s t r i c t o v e r a l l g r o w t h …
For the quarter ended September 2011, Indian domestic formulations
grew at 13.2%, their slowest growth since September 2010 according to
latest AIOCD data. This was on account of a dismal show by some acute
therapies. The growth rate has come down from 17.6% in Q2FY10 and
14.9% in Q1FY12.
Anti-infectives, the biggest therapeutic group (~18% share), was the
main dragger. It grew by just 6.8% during the quarter. Other major
laggards were respiratory, gastrointestinal (GI) and anti-inflammatory
which grew by 8.3%, 9.7% and 11.4%, respectively. The reasons cited
by industry players for slower growth in anti-infective were severe
pricing pressure on account of stiff competition from new domestic
players and existing MNCs, maximum attrition among medical
representatives (MRs) due to heavy poaching, extended monsoons and
lower offtake. Similar reasons were sited for tepid growth in other
laggards. Only two acute categories vitamins\minerals and dermatology
clocked above average growth rate. On the upside, chronic segments
such as cardiovascular (CVS), anti-diabetic and neuro/CNS did well and
grew by 19.4%, 24.9% and 14.8%, respectively.
Among players, Pfizer, Sun Pharma and Lupin registered strong growth
of 24.1%, 20.5% and 19%, respectively. Both Sun and Lupin did well in
acute as well as chronic therapies. Pfizer was a standout gainer in an
otherwise muted anti-infectives segment. On the downside, Unichem
(negative growth), Indoco Remedies and Dr Reddy’s reported paltry
growth on account of pressure in acute therapies. Torrent, Ipca, Zydus
Cadila and GSK also reported muted numbers.
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