The Indian pharmaceutical market, which includes both chronic and acute drugs, is poised to grow. The domestic market has grown from $ 17 billion in fiscal year 17 to $ 21 billion in fiscal year 21.
In this edition of The Medicine Box Podcast season 5, CNBC-TV18’s Ekta Batra talks to Nikhil Chopra, CEO of JB Chemicals and Pharmaceuticals Ltd, about the importance of the chronic and acute market in India, the competition from generic drugs and the the pharmaceutical company’s plans for the near future.
According to Chopra, consumer awareness of wellness and immunity has increased over the past 24 months, the majority of which includes the period of the COVID-19 pandemic, he said.
Acute therapy, which includes anti-infective, gastro, vitamins, etc., saw a decline over the period as more people were inside and therefore fewer infections were detected. Now, considering a gradual return to normal, besides resuming the acute treatment, Chopra believes that chronic treatments, which include drugs for cardiovascular, metabolic, etc., could develop and beat the growth of the market. interior.
JB Chemicals and Pharmaceuticals Ltd generates 49% of its sales in the domestic market and outperformed the industry growing by 14% in fiscal year 21, compared to industry growth of 4%. The CEO said the company is beating the industry with strong brands in the Indian market. And, it is looking to improve its ranking from its current 27th position in the domestic market.
Tune in to The Medicine Box podcast to learn more