Glenmark, Sun Pharma, Zydus Lifesciences Drive August Pharma Growth

Friday, 20 September 2024, 01:00

Glenmark, Sun Pharma, and Zydus Lifesciences significantly contributed to the pharma market growth in August. The Indian Pharma market reported a 7.6% year-on-year increase, continuing strong earnings growth from major players. Analysts suggest a promising outlook despite sequential single-digit growth as domestic revenue is expected to rise 7-9% this fiscal year.
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Glenmark, Sun Pharma, Zydus Lifesciences Drive August Pharma Growth

Market Overview

The Nifty Pharma Index has gained around 37% year to date, with Indian pharmaceutical companies demonstrating strong earnings in the US market. As per recent reports, the Indian Pharma market grew 7.6% year-on-year in August 2024, compared to 11.2% in July and 6% in August 2023.

Top Performers

  • JB Pharma: 13.7% YoY growth
  • Glenmark Pharma: 13.5% YoY growth
  • Intas Pharmaceuticals: 11.4% YoY growth
  • Sun Pharmaceutical Industries: 9.9% YoY growth
  • Zydus Lifescience: 9.7% YoY growth
  • Ajanta Pharma: 9.4%
  • Abbott: 9.5%

Among other companies, Lupin, Torrent Pharma, and Dr Reddy’s recorded growth rates of 8% or more. As of August 2024, Indian pharma companies hold an 84% market share in the Indian Pharmaceutical Market.

Future Outlook

Despite showing single-digit growth sequentially in August 2024, the outlook remains positive with analysts forecasting a 7-9% growth in domestic revenue for the fiscal year, primarily driven by launching new products.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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