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Pharma sector expected to grow 9-11% in FY22
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SME Times News Bureau | 04 Jan, 2022
India's pharma sector is expected to grow at 9-11 per cent in FY22, rating agency ICRA said on Tuesday.
It
attributed the growth to the improving demand for non-Covid products in
addition to new product introductions, rupee depreciation, and
expanding market coverage.
"Going forward, sustenance of trend in
doctor visits and elective surgeries given the news around the Omicron
variant, and performance of new launches in addition to revenue growth
momentum in the acute segment will remain key monitorables," ICRA said.
Further,
pricing pressures and rising raw material costs are expected to
contract margins for the sector to 22.5 per cent in FY22 and further to
pre-Covid levels of 21-22 per cent in FY23, said Deepak Jotwani,
Assistant Vice President and Sector Head, ICRA.
The outlook for
the pharma sector remains 'Stable' led by healthy revenue growth and is
seen remaining comfortable despite higher capital expenditure and
R&D expenses given the robust cash levels.
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