Sun Pharma, Cipla And More — Nirmal Bang's Top Stock Picks In Pharma Pack; Q1 Results Preview

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Nirmal Bang Report

Our pharma coverage universe’s revenue is expected to grow 10.5% YoY, mainly driven by robust growth in the US on the back of key products including Revlimid and favourable currency movement. We expect the IPM to grow 8% mostly on account of price hike, new launches, and muted volume uptick. In our coverage universe, we expect Ajanta, Dr. Reddy's, JB Chemicals, Eris, Sun Pharma, and Lupin to outperform the IPM.

Margins are expected to improve YoY on the back of a better product mix, price hike benefits in branded markets, and normalizing cost inflation.

US is expected to grow ~8% YoY in CC terms mainly on account of Revlimid and new launches but it is expected to remain almost flat to negative QoQ. Also, the raw material prices softening is supporting US growth.

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