Article: Pharma cos in bad health, sales tumble 1.6% in May.

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. ...

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