NEW DELHI : Ipca Laboratories, the market leader of anti-malarial drug hydroxychloroquine in India, was one of only three top 20 drugmakers to posted sales growth in April, a month when overall medicine sales in the country slumped 11.2% year-on-year to ₹10,211 crore, data from market research firm AIOCD-AWACS showed.
The Mumbai-based drug-maker’s strong sales growth was likely on account of high demand for hydroxychloroquine, which was under the limelight last month for being a potential treatment for covid-19 even as all other segments witnessed a decline in sales due to a lack of demand during the lockdown.
High demand for the drug was also shown by an 11% jump in sales of anti-malarial drug segment even as almost all other segment,