Growth in the India's retail pharmaceuticals market slowed to 7.5% inthe first quarter of 2001 compared with the like, year-earlier period, when it reached 14.7%, says a new study by the ORG-Marg market research group.
The survey puts the value of the market in first-quarter 2001 at 34.70 billion rupees ($740.8 million), underlining the sluggishness reported by the industry and concern over lack of growth in volume sales of branded drugs. It shows a significant slowdown, with Glaxo India's volumes up 0.3% in the quarter compared with 7.4% in first-quarter 2000, while those at Dr Reddy's were down from 16.5% to 2.9%.
Ranbaxy, the second leading company in the market, reported volume sales down from 16.5% to 2.9% (see also page 6), and the company's regional director for India and the Middle East, S D Kaul, said the industry is suffering from the impact of generic competition combined with seasonal factors, strong price competition and problems in selling new products. However, value sales for some multinationals improved in first-quarter 2001, with Hoechst Marion Roussel's up 11.4% and Novartis India's advancing 7.7%, although Indian companies generally performed less well in value terms.
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