|
|
Article: Pharma cos in bad health, sales tumble 1.6% in May.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- June 23, 2005
CopyrightCOPYRIGHT 2005 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: James Mathew & Gireesh Chandra
Jun. 23--NEW DELHI -- After value-added tax (VAT), is delayed monsoon the new villain for the pharma industry? The domestic pharma industry continued its lacklustre performance in May and registered a negative growth of 1.6 percent, compared to May '04.
Barring Sun Pharma, all the top 10 pharmaceutical companies including Cipla, GlaxoSmithKline and Ranbaxy have posted a decline in growth in May '05.
However, on a moving annual total basis (MAT) (June '04-May '05), the industry posted a growth rate of 2.4 percent. But the top pharma companies just managed to register marginal growth rates during the period. ...