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MOSL: HEALTHCARE-Moderate growth in June 2017

​HEALTHCARE: Moderate growth in June 2017

• ​The Indian pharmaceutical market (IPM) grew 7.5% YoY in June 2017 against 7.2% YoY in May. It grew 7.6% YoY for the quarter ended June 2017 (1QFY18).
  
• Volume growth in 1QFY18 was lower at 2.6% compared to 4% in 4QFY17. The industry saw a moderate rise in price growth to 2.1% after being subdued for 6-8 months; new product growth in the quarter was 3%. We expect industry growth to remain muted in the coming months due to GST impact.
  
• Moving annual (MAT) growth for May was 7.2% YoY, primarily driven by muted volume growth of 2.6% and price growth of 2.1%; new product growth contributed 3%.
  

Cadila, Sanofi, Biocon and Lupin saw highest growth in June

• ​Cadila posted robust growth for the month of June (19.4%), followed by Sanofi and Biocon (18.3% each), and Lupin (16.4%). Conversely, for Alkem, growth declined by 2%, followed by Alembic Pharma (1.2% down).
  

Vaccines, Anti-Diabetic and Cardiac led among therapies

• ​Vaccines - Therapeutic (1.9% of IPM) continued to witnessed robust growth at 29% YoY in June 2017, followed by Anti-Diabetic - Therapeutic (8.9% of IPM) at 18.3% YoY, and Cardiac - Therapeutic (12.3% of IPM) at 10.7% YoY. Most therapies posted low to mid-single-digit growth against high-single-digit growth in May. Gynecological (9%) and Derma (8.1%) posted higher growth than the market.