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Laurus Labs: Diversification away from ARVs on track

The share of the Laurus antiretroviral business in total is expected to be less than 1/3rd by 2025, compared to 50 percent now as the company’s other engines of growth gain traction

January 31, 2022 / 11:37 AM IST
Laurus Labs: Diversification away from ARVs on track

Laurus Labs

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Laurus Labs (CMP: Rs 500; Market Cap: Rs 26,857 crore) has posted a weak set of numbers in the recent quarterly results, dragged by channel de-stocking in the ARV (antiretroviral) business. Since the ARV business still constitutes the bulk of sales, the obvious investor concern will be whether the company would be able to meet the target of $1 billion revenue in FY23. Further, COVID opportunity has moderated. The Molnupiravir (Innovator: Merck) opportunity is also not seen as a material one...

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