ICICI Direct's research report on Pfizer
Pfizer collectively addresses 15 therapy areas in the domestic formulations with a portfolio of over 150 products that include therapeutics & vaccines. The company has been continuously restructuring its portfolio in the last few years to improve the productivity of its core brands. Fourth largest multinational pharma company in India with manufacturing facility in Goa with a run rate of 3.36 billion tablets per annum • Top Therapies: VMN, anti-infective, cardiac, gastro and respiratory; Top Brands: Prevenar 13, Becosules, Corex-Dx, Dolonex and Mucaine.
Outlook
Maintain HOLD as we keep watch on growth tempo in brands and implications of the VRS scheme for field force. Valued at Rs 4480 i.e. 30x P/E on FY24E EPS of Rs 149.3.
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