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Loss of patents of some key drugs in multinational pharma has enabled Indian pharma companies to have higher growth rates in chronic and sub-chronic therapy segments, according to data from market research firm PharmaTrac. Several cardiac and diabetes drugs went off patent in recent years such as Vildagliptin or Sacubitril-Valsartan. Several Indian companies launched generic versions of these drugs soon after that. However, smaller corporates are losing out.
While MNCs posted a 5 per cent five-year compound annual growth rate (CAGR) in the chronic segment, Indian pharma companies have recorded a 9 per cent 5-year CAGR. However, the top therapies for Indian and MNCs remain the same – anti-infectives, gastroenterology, and pain are among the top acute therapies; while cardiac, diabetes, and neurology are the top chronic therapies. Among sub-chronic therapies, nutritionals, gastro, and gynaecology are the top segments. The data also showed that smaller corporates are losing out over a period of time – the number of corporates have come down in recent years. Moreover, 45 per cent of the MNCs have a turnover of Rs 10 crore, while the same is around 20 per cent for Indian companies.
First Published: Dec 08 2023 | 12:11 PM IST
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