BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Sun Pharmaceutical Industries Ltd.'s subsidiary, Taro Pharmaceutical Industries Ltd., has resolved all the cases adhering to the multi-year investigations by the DOJ (Department of Justice, Antitrust Division and Civil Division) in U.S. generic pharma industry.
Taro will make a total payment of $419 million, including $206 million for deferred prosecution agreement and $213 million to resolve all claims pertaining to federal healthcare program.
This amount of settlement is inline with street estimates based on earlier settlement by Sandoz for similar cases.
Taro has strong balance sheet with cash balance of over $1 billion which is yielding very low interest income and the settlement amount can easily be paid using this cash. We believe this removes the key overhang on stock's valuation.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
