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Buy Dr. Reddy’s Laboratories: target of Rs 5900: Sharekhan

Sharekhan is bullish on Dr. Reddy’s Laboratories has recommended buy rating on the stock with a target price of Rs 5900 in its research report dated December 24, 2021.

December 27, 2021 / 05:21 PM IST
 
 
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Sharekhan's research report on Dr. Reddy’s Laboratories


With onset of new Omicron variant of Covid 19, demand for DRL’s Covid drugs including Sputnik vaccines is likely to improve. USFDA’s EUA for Molnupiravir could also likely have a positive rub off as DRL holds rights for Molnupiravir for India and other LMIC’s. DRL is committed to resolving the USFDA observations for Duvvada formulations plant and is confident of submitting timely responses. Strong product pipeline, pick up in base business to drive US sales and enable DRL to tide over competitive pressures while new launches, expanding penetration and pick up in existing portfolio including Covid basket to drive India sales.



Outlook


We re-iterate Buy recommendation on Dr Reddys Laboratories (DRL) with an unchanged PT of Rs 5900.


For all recommendations report, click here

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first published: Dec 27, 2021 05:21 pm
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