According to market research firm IMS, Ranbaxy Laboratories emerged the fastest growing pharmaceutical company in India in the first quarter of 2011. According to market research, Ranbaxy clocked sales growth of 17.3% from January to March in 2011 over the same period last year, although in terms of market share (4.78%) it remained second.
Ranbaxy was the fourth fastest growing firm, at 14%, in the same period last year. Meanwhile, Cipla grew at the second fastest a rate of 12.1% in the January-March period. Cipla however retained the top slot in market share (5.39%).
The third fastest growing company during the first quarter this year is GSK Pharmaceuticals, which grew at a 7.9% rate over the 14.9% growth recorded in the same period last year. GSK Pharmaceuticals garnered 4.03% market share which helped it occupy the third slot overtaking Piramal Healthcare.
As per the IMS data, Piramal Healthcare saw a massive decline in its growth rate to just 0.8% during the quarter under review. The growth rate for the company in the corresponding period last year was 22.3% and it was fastest among the top four firms. Piramal’s market share declined to 3.92% from 4.41% in the January-March period 2010.
The Indian pharmaceutical market is valued at around Rs 50000 crore as per industry estimates.
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