India to launch $ 250 mn i3 program to boost biopharma dev

India’s first ever Industry-Academia mission will be launched on June 30, 2017 to boost biopharmaceutical development in the country, as per the government release. The Ministry of Science & Technology said in a release that, “The first ever Industry-Academia mission to accelerate biopharmaceutical development in India will be formally launched by the Cabinet Minister for Scienc

Buy Sun Pharmaceutical Industries Ltd For Target Rs.650.00 - Motilal Oswal

Opportunity in Adversity

Multiple challenges in FY18; recovery in earnings expected from FY19

* Sun Pharma (SUNP) is trading at ~16x FY19E PER, which is ~20% and 30% below its 10- and 5-year average valuations, respectively. The stock has corrected more than 50% from its peak of >INR1,100 (in April 2015). This downward mo

29/06/2017 1:33:05 PM | Posted in Broking Firm Views - Long Term Report read full news
Eris Lifesciences edges lower after $264 million IPO

Indian drug maker Eris Lifesciences Ltd's shares swung between gains and losses in a tepid market debut on Thursday, after raising 17 billion rupees ($263.8 million) in an initial public offering.

Shares in Eris, whose portfolio includes drugs that treat diabetes, hypertension and cardiovascular diseases, was down 0.45 percent at 600.30 rupees by 0932 GMT on the National Stoc

Hold Aurobindo Pharma Ltd For Target Rs.735.00 - Sharekhan

Key points

The Event:

Aurobindo Pharma’s (Aurobindo) Unit VII (SEZ), an oral formulation plant was recently inspected by the USFDA and the audit concluded successfully without any 483 observations. Unit VII (SEZ) is one of the key plants exporting to US and has till date received 88 product approv

28/06/2017 2:54:24 PM | Posted in Broking Firm Views - Long Term Report read full news
Sell Torrent Pharmaceuticals Ltd For Target Rs.1,000.00 - Emkay

Generic business model in state of flux

Result highlights

* US revenue decline acute at 9% QoQ, though 36% growth QoQ in Brazil revenues the only saving grace which also helped anchor margins

* Overall numbers below expectations with the lowest gross margins reported in a very long time. We believe the margin press

28/06/2017 2:26:08 PM | Posted in Broking Firm Views - Long Term Report read full news
NPPA gets GST ready; releases ceiling price of 761 medicines

Drug price regulator NPPA announced provisional ceiling prices of 761 medicines, including anti-cancer, HIV, diabetes and antibiotic, with a majority being reduced ahead of the GST implementation, reported PTI. The National Pharmaceutical Pricing Authority (NPPA) said however that the actual increase or decrease in prices after the rollout of new indirect tax regime is expected to be in be in t

Piramal Enterprises raises Rs 500 cr via NCDs

Piramal Enterprises today said that it has raised Rs 500 crore via issue of secured non convertible debentures (NCDs) on private placement basis. An administrative committee of the company's board today approved the issue of secured non convertible debentures (NCDs) aggregating to Rs 500 crore on private placement basis, Piramal Enterprises said in a filing to the Bombay Stock Exchange.

Sun Pharma signs agreement with NIV to fight deadly virus

Leading pharma major, Sun Pharmaceutical Industries Ltd has said that it has signed an agreement with The National Institute of Virology (NIV), Pune, an institution of the Indian Council of Medical Research, Department of Health Research, Ministry of Health and Family Welfare for testing phytopharmaceutical, biologic and chemical entities developed by Sun Pharma against Zika, Chikungunya and De

Buy Aurobindo Pharma Ltd For Target Rs.700.00 - Emkay

Negatives priced in, Maintain BUY

Result highlights

* Pricing pressure for ARBP appears much less severe in Q4 as the same has been spread across multiple quarters

* Gross margins expand despite QoQ decline in US revenues due to increasing proportion of injectables in business mix. Expect a 40-50% C

26/06/2017 4:16:09 PM | Posted in Broking Firm Views - Long Term Report read full news
Piramal Enterprises gets nod to raise Rs 125 cr

Piramal Enterprises Ltd said that it has received Board nod to raise Rs 125 crore by issuing unsecured, non-convertible debentures on a private placement basis. “At a meeting of Administrative Committee of the Board of Directors held today the Committee approved the issue of unsecured, Non-Convertible Debentures on a private placement basis,” the company said in a filing to the Bomb

India, Sri Lanka to sign pact for cooperation in traditional medicine, homoeopathy

The Union cabinet has approved signing of an agreement between India and Sri Lanka for cooperation in areas of traditional systems of medicine and homoeopathy. The proposed memorandum of understanding will be inked between the Ministry of AYUSH and Sri Lanka's Ministry of Health, Nutrition and Indigenous Medicine.

"The signing of the proposed MoU will enhance bilateral cooper

Pharma Sector Update US drug pricing task force spells bad news for generic companies - Emkay

US drug pricing task force spells bad news for generic companies

Key highlights

 As per news reports, the US administration has put together a Task Force to rein in drug prices, which the new administration had repeatedly talked about during last year’s election campaigning {Link here} and {Link here}. The task force has a mandate t

22/06/2017 5:56:18 PM | Posted in Broking Firm Views - Sector Report read full news
Alembic gets USFDA nod for anti-hypertension drug

Vadodara-based drug maker Alembic Pharmaceuticals Ltd on Wednesday said it has received approval from the US health regulator for anti-hypertension drug, Candesartan Cilexetil tablets.

In a filing to the Bombay Stock Exchange, Alembic Pharmaceuticals said, “The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Applicati

Zydus gets EIR for Moraiya manufacturing plant

Pharma major Zydus Cadila said that its formulations manufacturing facility at Moraiya, Ahmedabad has received an Establishment Inspection Report from the USFDA signifying the successful closure of the audit.

“The Moraiya manufacturing plant has completed the USFDA audit from 06 February 2017 to 15 February 2017 with Zero 483 observations,” the company said in a filing to

Piramal Enterprises to raise up to Rs 1100 cr via NCDs

Piramal Enterprises said that it has received board approval to raise Rs 1100 crore through issue of privately placed secured Non-Convertible Debentures. “At a meeting of Administrative Committee of the Board of Directors held today, the committee approved the issue of Non-Convertible Debentures on private placement basis for upto Rs.600 crores with an option to retain over-subscription o

Dr. Reddy's Lab allots 13,627 equity shares under ESOP scheme

Drug maker Dr. Reddy's Laboratories on Tuesday said it has allotted 13,627 equity shares of Rs 5 each of the company to employees on exercise of their stock options.

“Nomination, Governance & Compensation committee of the board of directors of the company has allotted 13,627 equity shares of Rs 5 each of the company, fully paid up, on June 20, 2017, to employees on exerc

Zydus gets USFDA nod for Diflunisal tablets

Pharma major Cadila Healthcare Ltd on Tuesday said Zydus got final approval from the US health regulator to market Diflunisal tablets of 500 mg. “Zydus Cadila has received the final approval from the USFDA to market Diflunisal tablets in the strength of 500 mg,” Cadila Healthcare Ltd said in a filing to the Bombay Stock Exchange on June 20, 2017.

The company further said t

Eris Lifesciences IPO subscribed 75% on Day 2

The initial public offer of Eris Lifesciences was subscribed 75 per cent on the second day of the issue, reported PTI. The IPO, to raise Rs 1,741 crore, received bids for 1,20,33,096 shares against the total issue size of 1,59,48,750 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 82 per cent, non institutional

Subscribe On Eris Lifesciences Ltd - SPA Sec

Investment Rationale

Focus on branded prescription products catering to lifestyle disorders

Company's focus has been on developing, manufacturing and marketing products, which are linked to lifestyle related disorders (typically chronic), targeting specialists and super specialist segments. It develops, m

IPO Note Eris Lifesciences Ltd - Emkay

Delicate balancing act on organic and inorganic growth

* Eris Life Sciences offers a unique play on India’s branded formulations space. Existing Indian pharma companies are either geographically diversified with MNC pharma companies lacking ambition.

* It has an enviable position in oral Anti-Diabetes, Cardiac and Gastroenterology, but

Lupin tumbles over 6% on profit booking

Shares of Lupin tumbled over 6 per cent on the Bombay stock Exchange as investors resorted to profit booking after rally in the last few sessions. Earlier on Thursday, the drug maker said that it has launched the generic Wellbutrin XL tablets in the United States after receiving an approval from the United States Food and Drug Administration (FDA) earlier.

Reacting to the news, shares

IPCA Lab tanks nearly 15% as USFDA refuses import of drugs

Shares of IPCA Laboratories nosedived nearly 15 per cent on the Bombay stock Exchange after the company said the US Food and Drugs Administration (USFDA) has refused admission to all drugs made at the company's formulations manufacturing units situated at SEZ Indore (Pithampur) and Piparia (Silvassa). Reacting to the news, shares of the company declined as much as 14.83 per cent to hit an i

Subscribe On Eris Lifesciences Ltd - GEPL

Company Background

Eris Lifesciences Ltd is an Ahmedabad, Gujarat based pharmaceutical company, incorporated in 2007 that is engaged in research, development, manufacturing and selling of select therapeutic areas within the chronic and acute categories of the Indian Pharmaceutical Market.

Company’s focus has been on developing, manufacturing and marketing products, whi

Pharma Sector Update US FDA shows it has a bark and a bite - Emkay

US FDA shows it has a bark and a bite

* New US FDA commissioner acts on his promise to limit access to opioid substances by requesting Endo Pharma to withdraw opioid brand Opana ER from the market

* The new regime at FDA had specifically highlighted abuse of opioid medicines and faster generic approval timelines with lower backlogs as key tar

15/06/2017 5:30:00 PM | Posted in Broking Firm Views - Sector Report read full news
Pharma Sector Update Indian Pharma Market remains sluggish; focus now shifts to GST impact - Emkay

Indian Pharma Market remains sluggish; focus now shifts to GST impact

* The Indian Pharma Market’s (IPM) growth remained subdued in May’17, with the overall growth rate at 7%. We attribute the ongoing slowdown partly due to the continuing government intervention in the sector.

* The key reasons for the poor sector growth has been

15/06/2017 4:21:35 PM | Posted in Broking Firm Views - Sector Report read full news