Torrent Pharmaceuticals Ltd’s US sales dipped by 30% to Rs 269 crore in Jan-March quarter over the identical interval final fiscal, whereas Vadodara-headquartered Alembic Pharmaceuticals Limited’s revenues from the US plummeted by 18% to Rs 475 crore. Cadila Healthcare’s formulation enterprise revenues eased 6% to Rs 1,509 crore in This autumn compared with the previous third quarter of 2020-21.
Sun Pharmaceutical Industries Limited’s sales got here down by 1.3% in This autumn. Other pharma firms like Lupin and Dr Reddy’s Laboratories additionally reported decrease revenues from the North American market.
Torrent attributed the dip in revenues to the dearth of new product approvals pending USFDA re-inspection of its manufacturing services. Additionally, the bottom enterprise was additionally impacted on account of excessive single digit worth erosion and discontinuation of Sartan group of medicines.
“We proceed to file double digit ANDAs (Abbreviated New Drug Applications), which is able to assist in having double digit launches as soon as we see USFDA clear our services,” the corporate stated.
According to an analyst, the Cadila Healthcare’s sales within the US had been down on Q-o-Q foundation attributable to weak flu season, homebound inhabitants in lockdown and worth erosion in older merchandise.
“US market all the time goes by way of cycles. There are cycles when one sees hyper competitors and worth erosion. You will see these ups and downs within the US market. Six-month or one-year is simply too quick a interval to take a view. Rather a interval of 2-3 years needs to be thought-about,” stated Dr Sharvil Patel, managing director, Cadila Healthcare Limited, the flagship firm of Zydus Cadila Group.
Pharma gamers additional acknowledged that dispensation of prescriptions in US additionally slowed down attributable to Covid-19, which additionally affected the retail offtake of medicines.
However, the home sales development of these pharma firms helped them offset decrease revenues from the US market. Torrent Pharma’s home sales grew 10%, whereas Cadila Healthcare’s home sales surged 18%. Alembic Pharma’s India sales rose 5%, in response to the This autumn monetary outcomes of these firms.