After dipping 3.3% and 6.3% y-o-y in September and October in the back of New Pharma Pricing Policy (NPPP) implementation, the overall volume growth in the pharmaceutical space has started to rebound. Post a 2.5% y-o-y growth in volumes posted during November’13, the overall volume growth at 4.1% does provide some respite.
The respite also comes from the fact that sales from stockist to retailers for the India Pharma Market (IPM) increased to 8.2% year-on-year (from 6.9% in November 2013) analysts at Nomura suggest. This also indicates that the impasse over NLEM that has been keeping domestic sales of most pharma companies under check is being sorted out. Read More..
By Ujjval Jauhari and Puneet Wadhwa