Nomura has reported that India’s pharmaceutical market (IPM) grew 8% year-on-year in June 2025, driven by a recovery in acute therapies. The growth is the highest recorded in the past five months and is broadly in line with expectations.
The brokerage noted that most companies under its coverage outperformed the broader market during the month. IPCA Laboratories and Sun Pharma led the pack with 12% year-on-year growth each, while Torrent Pharma, Dr. Reddy’s Laboratories, and Glenmark followed closely with 11% growth.
Nomura attributed the overall improvement to stronger demand across key acute therapy areas, signalling a pickup in seasonal illness trends and improved prescription volumes. The firm sees the June data as a positive indicator for Q2FY26 revenue momentum, particularly for companies with significant exposure to the domestic formulation business.
Disclaimer: The views expressed above are those of Nomura and do not constitute investment advice. This article is for informational purposes only.
