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Last Updated : Oct 05, 2016 07:02 PM IST | Source: Moneycontrol.com

Buy Marksans Pharma; target of Rs 60: Centrum

Centrum is bullish on Marksans Pharma has recommended buy rating on the stock with a target price of Rs 60 in its research report dated September 29, 2016.

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Centrum's research report on Marksans Pharma

We attended the AGM of  Marksans Pharma (MPL) and came out with a long-term positive outlook. We maintain Buy rating  with a TP of Rs60 based on 18x March’18E EPS of Rs3.4. MPL’s Q1FY17 results were impacted due to the decline in sales in the UK, Europe and RoW markets. We expect its performance to improve, as the US market is likely to report good growth led by recent approval of Metformin HCl ER tablets and Loratadine softgel capsules. MPL has filed ANDAs for 9 softgel capsules and expects approvals for the same. MPL is poised for good growth on TCL integration in the US and is likely to exhibit superior performance.

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First Published on Oct 5, 2016 07:02 pm