Abbott India Limited's five major brands grow faster than the market
Strong brands are set to drive growth at Abbott India Limited (AIL), which reported 9% revenue growth in the domestic market despite trade-related issues affecting the industry. The company announced recently that its revenues rose year-on-year to US$78m (Rs 4.87bn) from $72m (Rs 4.48bn).
AIL’s five major brands grew faster than the market. These were gynaecological drug Duphastone, which saw growth of 10.4%; Thyronorm, a thyroid hormone, with 14.8% growth; antiemetic Vertin with growth of 17.5%; laxative Duphalac with 12.8% growth; and antacid Digene, which recorded growth of 13.1%.
Analysts expect these major brands to drive the future growth of the company. However, two products – Thyronorm and Eptoin – came under drug price control as part of India’s National Pharmaceuticals Pricing Policy. Despite this, Thyronorm was able to report growth of almost 15%, although Eptoin reported a 5% drop in revenues.
In addition AIL distributes Novo Nordisk’s insulin range of products in the Indian market. These products are also under government price control.