Domestic sales a booster dose for pharma revenues

Buoyant domestic sales are expected to lift revenues for pharma companies

- SOHINI DAS

Buoyant domesticsalesare expectedto liftrevenues for pharma companies by 8-11percent in Q3FY26, evenasdeclin-ing generic Revlimid (cancer drug) sales in the US remain a key drag.

Mostbrokerages forecastamodest 2-4 per cent growth in profit after tax (PAT) for the quarter. Hospitals and diagnostics companies, meanwhile, are likely to post much stronger numbers, with revenues seen growing 20-22 per cent year-on-year (Y-0-Y).

The Indian pharmaceutical market (IPM) continues to grow in double digits, led by cardiactherapies (16 per cent), oncology (26 per cent) and antidiabetics (14 per cent) during the quarter.

In contrast, anti-infectives (2 per cent), pain (7 per cent), gastro-intestinaland dermatology therapies (both 8 percent) reported single-digit growth.

Nuvama analysts expect Lupin to deliver 8-10 per cent domestic growth, with ex-anti-diabetic therapies significantly outperforming.