Pharma Q1 Preview - Robust Volume Growth In Formulation Business, Healthy Product Launch Pipeline: KRChoksey

KRChoksey Research Report

The Indian pharma market is projected to experience a high single-digit growth rate in the Q1 FY24. This growth will be driven by the recovery in volume from the U.S. and European markets, expansion in the domestic formulation sector, a promising pipeline of product launches, partially offset by price erosion in the U.S. generic business and a downward revision in the National List of Essential Medicines.

Additionally, there are emerging opportunities in contract development and manufacturing organisation and active pharma ingredient synthesising companies, particularly in the innovative, specialty, and biosimilar product segments.

These opportunities are expected to serve as key growth drivers for the pharmaceutical industry. Considering these factors, we maintain the belief that the long-term growth outlook for pharma companies remains intact, and they are anticipated to deliver robust performance in the upcoming quarters.

Our top recommendations in the sector include Sun Pharmaceutical Industries Ltd., Cipla Ltd., Alembic Pharma Ltd., and Granules India Ltd.

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