Our Pharma coverage for 1Q24e, in line with their past few quarterly trends, is expected to report a healthy Revenue/EBITDA (ex-BIOS) growth of 14%/24%YoY and EBITDA margin of ~24%. US sales, aided by new launches (primarily gRevlimid), drug shortages and stable pricing, along with healthy India performance will continue to drive growth and profitability. NTCPH, DRRD, SUNP and ZYDUSLIF are likely to increase/ sustain their gRevlimid contribution QoQ, largely driving sales over a low base. DRR...
Healthcare Sector Update : FY23 Review A year of base reset, Revlimid, RM inflation By JM Financial
FY23 Review: A year of base reset, gRevlimid, RM inflation
In FY23, our Pharma coverage has delivered Revenue/EBITDA growth of 12%/14%YoY driven by key US launches, healthy India business and easing inflationary pressures. gRevlimid launch benefitted players like DRRD, CIPLA, ZYDUSLIF, NTCPH and SUNP and this is expected to increase in FY24. Ex-Revlimid, US base business remained flat with stable price erosion and we expect it to grow in high single digits in FY24 considering key launches ...
Healthcare Sector Update : FY23 Review: A year of base reset, gRevlimid, RM inflation By JM Financial
