IPCA has delivered 12% sales CAGR in the DF segment v/s India Pharma market (IPM)'s growth of 7% over FY18-21, with 26% YoY growth in 9MFY22. Almost 68% of the growth was led by volume, 20% by price and the remaining by new launches for 12M ending Feb'22. The shift in doctors' inclination towards prescribing Aceclofenac (than diclofenac) along with IPCA's superior marketing efforts is primarily fortifying its ZERODOL brand (26% of DF sales as per AIOCD) and its combinations. Even Chlorthalidone has witnessed high-teens growth over the past two...