Zydus Lifesciences Ltd. share price target

We revise upgrade our earnings estimate by 22% in FY23E while marginally decreased by 2.4% in FY22E as we increase estimates of Consumer healthcare, India formulations (with 40+ launches) and EU sales while removing animal healthcare sales from 2HFY22 due to sale of business. The 4QFY21 sales were in-line, while earnings beat our estimates with...

IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...

Cadila Healthcare is India's leading vertically integrated pharmaceutical company. With its presence across the value chain, it manufactures finished dosage forms, active pharmaceutical ingredients, animal healthcare...

We upgrade CDH to Accumulate (earlier Sell) and increase our earnings estimate by 20%/32% for FY22/23E as we include 1) benefits from new vaccine facility that could add revenue of Rs10bn in FY23E, 2) reduction in interest...

Cadila Healthcare (CDH) posted in-line 3QFY21 results, led by a superior performance in India/EM, partly offset by a dip in US sales. CDH is progressing well on NCE programs and developing complex injectables. It is not only working on developing a vaccine for COVID but is also building...

Q3 operational performance was mostly in line with I-direct estimates (albeit skewed) led by strong domestic formulations growth, whereas profitability was higher due to lower interest cost and tax rate. On the US front, the company plans to venture into complex injectables (71 filed ANDAs), which is likely to provide meaningful traction from FY23-24 onwards. Similarly, addition of biosimilars (like Trastuzumab, Adalimumab, Pegfilgrastim, Bevacizumab, etc) for Emerging markets (like LatAm, MENA markets, South East Asia) are expected to provide growth impetus, going ahead. The...

Cadila Healthcare is India's leading vertically integrated pharmaceutical company. With its presence across the value chain, it manufactures finished dosage forms, active pharmaceutical ingredients, animal healthcare...

Q2 revenues were above I-direct estimates on all fronts due to better than expected operational performance and lower interest expense. On the US front, the company plans to venture into complex injectables (69 filed ANDAs), which is likely to provide meaningful traction from FY23-24 onwards. Similarly, addition of biosimilars (like Trastuzumab, Adalimumab, Pegfilgrastim, Bevacizumab, etc) for Emerging markets (like LatAm, MENA markets and South East Asia) are expected to provide growth impetus, going ahead. The wellness segment performance hinges upon Cadila's...

Solid presence in the chronic and sub-chronic segments (which are the key growth drivers for Indian pharmaceutical markets) and an improving outlook for the acute segment provide ample growth visibility for India business Easing pricing pressures, sturdy new product pipeline, and ramp up in the recent product launches would be key growth drivers going ahead for the US business. Strong growth prospects, sturdy balance sheet, and healthy return ratios would...