Power brands continue to grow ahead of industry growth The domestic pharma market (~| 1.4 trillion AIOCD MAT December 2019) is growing at 9-10% YoY. Branded generics dominate the pharmaceuticals market, constituting nearly 80% of market share in revenue terms. Sanofi's top five brands (Lantus, Combiflam, Allegra, Amaryl and Clexane) together posted revenue CAGR of ~14% (CY15-19), leading their combined contribution to Sanofi's India sales to grow from 44% in December 2015 to nearly 54% in December 2019. Note that four core brands (Lantus, Amaryl,...