ICICI Direct's research report on Sanofi India
Sanofi offers drugs in therapies like diabetes (insulins & orals), cardiology, pain, allergy and epilepsy. Around 70% of sales stem from top 7 brands. Lantus, Allegra & Combiflam are in Top 100 pharmaceutical brands in India • Sanofi enjoys strong brand recall in anti-diabetic therapy in India.
We maintain HOLD rating on the stock due to lack of visible growth triggers and ramp up in ex-power brand portfolio. Valued at Rs6885 i.e. 26x P/E on FY24E EPS on Rs 264.8.
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