attributed to strong growth in the US and a recovery in domestic business sales. PAT rose 49% YoY to INR5b (5% beat). Strong growth in US driven by key launches: US business rose 66% YoY (+70% QoQ) to INR16.4b, led by Lialda launch. Lialda sales are likely to decline due to AG launch, but ramp-up of Tamiflu suspension and other key launches (incl. Asacol HD, Toprol XL, Prevacid ODT) should help maintain strong growth. Post successful resolution of Moraiya facility, we expect ~80 ANDA approvals until FY19 for CDH. ~50% of these are expected to come...