Cipla reported a 13% beat on sales and EBITDA adjusting for gSensipar contribution in the US (US$ 40mn per management) during Q4. The beat was led by recovery in Europe & South Africa (private market), a higher US DTM mix and India growth. Cipla sees low litigation risk in the gSensipar at-risk launch and is guiding for an improved FY20, with double-digit growth in the US (incl. one inhaler launch). FY19 reported EPS is Rs 19 (Rs 2 from non-core...