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Prabhudas Lilladher Report
Aurobindo Pharma Ltd.’s nine months performance was weak, given cost headwinds and lower U.S. sales. We believe cost pressures have stabilised and margin trajectory should improve from FY23.
However, pick up in U.S. sales hinge on timely niche approvals along with stabilisation of pricing pressure in base business.
Aurobindo Pharma has multiple growth drivers in place with investments in vaccines, injectables, biosimilars and production linked incentive, which are expected to be reflected from H2FY23.
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