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Budget 2021

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Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Buy Lupin; target of Rs 1085: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1085 in its research report dated August 25, 2020.

August 27, 2020 / 02:06 PM IST
 
 
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Prabhudas Lilladher's research report on Lupin


LPC received approval for gProAir HFA (Albuterol Sulfate) that offers a revenue opportunity of US$140-155m over next 8 quarters beginning from 2QFY21E. The total market size of Albuterol Sulfate Inhalation Aerosol is US$2.9bn of which 44% market share is held by ProAir. While there are 9 companies in Albuterol (including 3 AG, 6 generics), LPC and Perrigo are the only generics in gProAir and plans to launch their generics in Aug CY20. We expect LPC can potentially have 5% Rx share of the Albuterol Sulfate Inhalation market and 20% of ProAir as all 3 brands are interchangeable with each other, plus doctors prescribe 44% of medicine in generic name of the molecule. LPC may also gain advantage of Perrigo’s gProAir supply issue in the near-term.



Outlook


We incorporate Albuterol’s incremental benefit in our assumptions and increase revenue by 1-2% over FY21-23E and EPS by 8% / 8 / 5% for FY21/22/23E and derive new TP of Rs1,085 (earlier Rs1,001) based on FY22E. We maintain BUY.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 27, 2020 02:06 pm

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