Sun Pharma: Sustained traction in speciality to be a re-rating driver
Sun Pharma's India business is expected to gain traction as sub-chronic and acute therapies pick up with the opening up of clinics/OPDs. This is likely to be fully backed by the field force where the expansion has recently been completed
Revlimid is a blockbuster blood cancer drug with sales of $12.1 billion for BMS in 2020.
- 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
Highlights - Q3 sales helped by US and India businesses - Improved margins mainly because of lower operating expenses and product mix - Few speciality products likely to break-even next fiscal - Heavy product launch pipeline to support India business India’s largest pharma company Sun Pharma (CMP: Rs 586 Market cap: Rs 140,649 crore) has posted two back to back strong quarters driven by speciality products. With the economy recovering, traction for even the US generic business has been better than expected and there has been market share...
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