Laurus Labs Ltd. share price target

ICICI Securities Ltd | Retail Equity Research We met the management of Laurus Labs (Laurus) to understand the business model and its future plans. The company is a leading Indian active pharma ingredient (API) manufacturer with a leadership position in the therapeutic areas of anti-retroviral (ARVs or anti-AIDS- 64% of FY17 revenues) and Hepatitis C (13% of FY17 revenues). Apart from these, Laurus is also into oncology APIs (15 DMF filings), other therapeutic APIs, synthesis business and nutraceutical/cosmeceuticals ingredients...

Laurus is coming out with an Initial Public Offering (IPO) to raise Rs13.26-13.31bn from the equity market at a price band of Rs426-428 per equity share. The offer comprises of a fresh issue and an Offer for Sale. This issue will provide exit to its PE investors [offer for sale (OFS) for up to 24,107,440 shares by Private Equity shareholders Aptuit, Bluewater, FIL Capital Management, FIP (acting through its trustee FIL Capital Advisors)]. The Company shall not receive any proceeds from the Offer for Sale. The net...

Laurus labs Ltd (LLL) is a leading research and development (R&D) driven pharmaceutical company in India. Issue Open: Dec 06 - Dec 08 2016, Price Band: Rs. 426 ? 428

Established in 2005, Laurus is a leading API manufacturing company in India. Over the last five years, it has grown at 41% CAGR on top line, 48% CAGR on EBITDA and 58% on earnings. Strong R&D skills, focused approach, sticky relationships with clients and experienced leadership have been the key cornerstones of Laurus? success in the APIs.

Laurus labs Ltd (LLL) is a leading research and development (R&D) driven pharmaceutical company in India. Issue Open: Dec 06 - Dec 08 2016, Price Band: Rs. 426 ? 428

The company operates in 4 segments: Generics APIs, Generics FDFs, Synthesis and Ingredients. Generics API business comprises the development, manufacture and sale of APIs and advanced intermediates; Generics FDF business comprises the development and manufacture of oral solid formulations; Synthesis business includes contract development and manufacturing services for global pharmaceutical companies; and Ingredients business comprises the manufacture and sale of specialty ingredients for use in the nutraceutical and cosmeceutical sectors....

Laurus Labs Limited (Laurus Labs) was originally incorporated on September 19, 2005 at Hyderabad, Andhra Pradeshas a Private Limited Company. The company was subsequently converted into a public limited company and its name was changed to Laurus Labs Limited. Laurus Labs Limited (Laurus Labs) is the leading research and development (R&D;) driven pharmaceutical company in India, with a leadership position in Generic Active Pharmaceutical Ingredients (APIs) for select, high-growth Therapeutic areas of Anti-Retrovirals (ARVs) and Hepatitis C. The company also manufacture APIs in Oncology and other Therapeutic areas. The strategic and early investments in R&D; and Manufacturing infrastructure have enabled them to become one of the leading suppliers of APIs in the ARV therapeutic area to multi-national pharmaceutical formulation companies which cater to the large and fast-growing Donor-Funded Access-to-Medicines Markets of Sub...

Incorporated in 2005, Laurus Labs Ltd is Hyderabad based pharmaceutical company. Laurus Labs is in the business of manufacturing generic active pharmaceutical ingredients (APIs) for therapeutic areas of antiretrovirals (ARVs) and Hepatitis C. Company also manufactures APIs in oncology and other therapeutic areas. The company operates in operate in four business lines: Generics APIs, Generics FDFs, Synthesis and Ingredients. The company has also set up a R&D; center in Greater Boston, United States in 2015. As of June 30, 2016, it has employed 587 scientists at its R&D; center in Hyderabad and 12 scientists at its R&D; centre in Greater Boston, which constituted 25.0% of its total...

Laurus Labs is a Hyderabad based company engaged in manufacturing of Active Pharma Ingredients (API). Company derives 80% of its revenues from exports while rest comes from the domestic markets. Its client base features companies like Cipla, Natco, Mylan, etc. API is its largest segment which contributes 92% of the revenues while rest 8% comes from its Synthesis and Ingredients business. Investment rationale 1) Company operates its API business model with a niche focus on select therapeutic segments. This makes it a specialist API manufacturer in a few therapeutic segments. 2) Laurus intends to enter in the US market with its...