Cipla, Sun Pharma, Ipca Labs, JB Pharma boost Indian pharma growth in March

The Indian Pharma Market (IPM) created a conducive growth environment in 2025 for March at 9.3% YoY, which shows a remarkable recovery from the months gone by. Key growth drivers included Cipla, Sun Pharmaceutical Industries, Ipca Laboratories, JB Chemicals and Pharmaceuticals (JB Pharma), and Glenmark Pharmaceuticals.

The high growth—the highest among the top 20 pharma companies—was 17.1% YoY led by JB Pharma, followed by Cipla at 16.3%, Ipca Laboratories at 14.3%, and market growth overall. The following two companies make up the strong performance landscape: Sun Pharma at 12.6% and Glenmark Pharmceuticals at 13.5%.

Therapeutic categories, notably Pain Relief, Cardiology, Antineoplastics, and Gastroenterology, all showed strong double-digit growth, contributing towards an apex achievement, with JB Pharma's growth in Ophthalmology and Gastroenterology creating a strong rally. The strength for Cipla is emanating from strong performance in the Cardiac, Anti-Diabetic, and Urology areas.

Growth in the Indian Pharma Market at 9.3% is much above that registered for March 2024 and February 2025 of 1% and 4.1%, respectively. The acute therapies have shown a clear rebound, up 8%, eclipsing the 1% and 3% posted in March and February of the previous year, respectively, thus reinforcing the argument for being a seasonal phenomenon.

As of March 2025, Indian pharma companies own 83% of the share of the IPM. As per Motilal Oswal Financial Services, Indian companies grew at a YoY of 9%, while the MNCs-with the remaining 17% of market share- outperformed slightly with a growth of 10.4%.