AstraZeneca, FDC, Nutricia lead corporate growth as pharma market strengthens in September 2026

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Several pharmaceutical companies recorded strong growth in both sales value and units during September 2026, indicating broad-based demand across leading and mid-sized players in the Indian Pharmaceutical Market (IPM), according to data from Pharmarack Technologies.

At the corporate level, AstraZeneca emerged as one of the strongest performers, with its moving annual total (MAT) sales value rising 25.1 per cent and units increasing 18.3 per cent. Its monthly performance was even stronger, with value growth of 38.1 per cent and unit growth of 32.8 per cent in September.

Among the companies ranked 21 to 40, FDC recorded 3.9 per cent MAT value growth and 8.1 per cent unit growth, while its September monthly sales value jumped 24.6 per cent, accompanied by a 40.8 per cent increase in units. Ajanta Pharma also delivered healthy growth, with MAT value up 15.3 per cent and units up 8.4 per cent; its monthly value and unit growth stood at 16.5 per cent and 7.5 per cent, respectively.

Corona Remedies posted MAT value growth of 20.5 per cent and unit growth of 6.2 per cent, while September monthly value growth stood at 20.9 per cent, with units increasing 6.5 per cent. La Renon Healthcare registered 19.8 per cent MAT value growth and 6.5 per cent unit growth, while its September monthly value and unit growth were 21.2 per cent and 5.9 per cent, respectively.

Among the top 20 companies, Sun Pharma maintained its No. 1 position, with MAT sales value of Rs 22,453 crore and 15.1 per cent value growth, supported by 5.3 per cent unit growth. In September, Sun recorded 21.6 per cent value growth and 10 per cent unit growth.

Abbott reported MAT value growth of 7.9 per cent and unit growth of 5.1 per cent, while its September monthly performance improved to 11.7 per cent value growth and 10.8 per cent unit growth. Cipla recorded MAT value growth of 10.7 per cent and unit growth of 6.7 per cent, although its September units declined 3.5 per cent despite 12.1 per cent value growth.

Other notable MAT performers included Torrent Pharmaceuticals, with 15.5 per cent value growth, Intas Pharmaceuticals at 14.7 per cent, Lupin at 13.7 per cent, Zydus Lifesciences at 15.2 per cent, and Dr Reddy's Laboratories at 12.6 per cent. Intas and Lupin also recorded positive MAT unit growth of 4.1 per cent and 3.6 per cent, respectively.

The September monthly numbers point to particularly strong momentum for Nutricia, which recorded 32.3 per cent value growth and 16.4 per cent unit growth, while USV posted 18.1 per cent value growth and 10.6 per cent unit growth. IPCA Laboratories registered 16 per cent value growth and 8.4 per cent unit growth during the month.

Commenting on the market dynamics, Sheetal Sapale, Vice President – Commercial, Pharmarack Technologies, said, “Growth in both sales and units indicates stronger or higher demand, and better acceptance of new introductions. It means that older products as well as newer products are having good demand.”

The corporate performance comes against an overall IPM backdrop of 13.5 per cent monthly value growth and 2.9 per cent unit growth in September, while MAT value growth stood at 10.9 per cent, with units growing 1.5 per cent, according to the Pharmarack data.

Narayan Kulkarni

narayan.kulkarni@mmactiv.com