Indian pharma sector sees 11% growth

India's pharmaceutical industry grew 10.8% in September from a yearago, with sales in the month valued at 14.26 billion rupees ($297.3 million), say new data from the ORG market research body. New drugs launched in the last year had sales worth 3.52 billion rupees, it adds.

However, analysts note, on a cumulative basis for the nine months from January, the growth rate for this year is only 8%, compared to an annual target of 12%-14%.

The Economic Times newspaper reported recently that the combined market value of multinational drug companies in India is currently estimated at 55 billion rupees. The firms include subsidiaries and affiliates of companies such as GlaxoSmithKline, Pfizer, Novartis, Merck KGaA, Aventis, Wyeth Lederle and Abbott.