Page 7 - Pharma Sector News Today

In Q1, the US business of the rated companies grew by a remarkable 26.6 per cent YoY

US-based private equity firm Bain Capital is exploring a joint bid with Dr. Reddy’s Laboratories for the promoter stake

Transaction in line with our strategy of strengthening OTC and wellness portfolio, says firm

"As exports are not doing good for the last few months, there is a demand to extend it for about six months till March 2024. It is under consideration. We may extend it," the official said. These three sectors were late entrants into the scheme that aims to refund duties, taxes and levies at the central, state and local level that gets added to the cost of products meant for exports.

Axis Securities is betting on Lupin, Cipla and Aurobindo Pharma with up to 19 per cent upside potential.

​There are those challenges and that is clearly reflected in the daily price of power if you look at. If you look at the IEX numbers, the power cost is at two, two-and-a-half rupees.

Aside from expensive valuations, the Street remains bullish on the growth prospects for Lupin, especially after the approval of its blockbuster inhalation drug, the generic of Spiriva.

"If people are focusing on export led sectors, we could have a move out of tech into pharma continuing. I think it has already begun. Strangely, the well-integrated consolidated metals and commodity players could also be in focus. Especially the well-integrated steel sector could be like a new pharma in a mini sense where the worst is taken care of."

A slow offtake in the acute season resulted in weaker sales within the segment, dragging overall sales growth in the domestic pharma market in July.

"In the last many months, the US has been witnessing a lot of shortages on the injectable side and within the injectable space, there are three-four companies from India which can participate in that. Gland Phama is also one of the participants in that and a big beneficiary. Perhaps, the market is also trying to build that only because otherwise the numbers were not so extraordinary to warrant 30-40% move in a span of two days."