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 seven brands. Lantus, Allegra & Combiflam are in Top 100 pharmaceutical brands in India • Sanofi enjoys strong brand recall in anti-diabetic therapy in India.
Downgrade from BUY to HOLD as we wait for visible growth triggers and ramp up in ex-power brand portfolio. Valued at Rs 7740 i.e. 28x P/E on FY24E EPS on Rs 276.4.
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