Motilal Oswal - MOSL: HEALTHCARE-IPM â€“ Early signs of revival

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Motilal Oswal

MOSL: HEALTHCARE-IPM â€“ Early signs of revival

â€‹HEALTHCARE: IPM â€“ Early signs of revival

Indian pharmaceutical market's (IPM) secondary sales grew at a healthy rate in October, led by strong volume growth. Price growth, however, witnessed a downtrend in the month. IPM grew by 6.5% YoY in October 2017 and 3.8% YoY over August-October 2017.

After declining 0.3% YoY over May-July 2017, industry volumes grew by 3% over August-October 2017. Growth in new products came down to 2.6% YoY over August-October 2017, from a high of 7.4% YoY in the year-ago period. Prices declined 1.8% YoY in the recent quarter, after increasing marginally by 0.6% in May-July 2017. We believe the negative impact from GST is now behind, and expect a gradual recovery over the coming months.

Moving annual total (MAT) growth for October stood at 6.0%, as against -6.2% YoY in September.

GSK Pharma, Natco and Mankind witness highest growth

GSK Pharma (+23.7%) posted robust growth for October, followed by Natco (+22.7%) and Mankind (+21.1%). More than 50% of the companies posted high-single-digit to high-double-digit growth in the month.

IPCAâ€™ secondary sales continued to decline (-11.6%) in October, followed by Pfizer (-6.8%).

20/11/2017 22 EN

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Motilal Oswal

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MOSL: HEALTHCARE-IPM â€“ Early signs of revival

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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