ff India Biz (40% of Sales): TRP's domestic business grew by 16.5% YoY, which adjusted for Unichem acquisition and GST roll-out related changes, grew by 13% YoY. During 3QFY18, TRP booked Unichem sales from 14th to 31st Dec-17, as part of its domestic business. As per management, sales growth of the acquired business is still slow due to integration with TRP. Further, despite re-stocking post GST roll-out, inventory is yet to match pre-GST level (14 days vs. 21 days). Led by Unichem acquisition, product overlap stood at ~70% while doctor overlap at ~90%. TRP expects any cost synergies driven by the overlaps to be limited due to higher rural penetration of Unichem's products (70% vs. 30% of TRP). The Management...