THE VANISHING SPECTRE of the pandemic has left in its wake contrasting shadows in different segments of the healthcare space. While hospitals showed strong recovery due to a rise in patient footfalls and surgeries, diagnostics companies’ revenues tanked following declining Covid-19 testing in the past two quarters. And while major pharmaceutical companies are seeing revenues recover, their ranks in the BT500—based on average market capitalisation from October 2021 to September 2022—have mostly fallen below 2021.
For instance, Sun Pharmaceutical Industries, India’s largest pharma company, saw its rank slip to 27 this year from 24 in 2021. But its consolidated Q4FY22 revenues grew 10.9 per cent year-on-year (YoY) to ₹9,386 crore. And in Q2FY23, the company recorded double-digit top line growth and strong margins driven by market share gain in India and sustained ramp-up of its global in an emailed response.
