Lupin - Launches Critical For Sustenance Of Turnaround: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Lupin Ltd.’s U.S. business had grown by a robust 33.8% YoY, driven by gSpiriva which had helped the company post a turnaround in overall growth and margins in FY24. Lupin’s dependence on gSpiriva is significant (expect sales/Ebitda contribution of 4%/17%, respectively); while competition in this product may not be imminent in the near term, potential price cuts by innovator and limited scope for market share improvement (30- 35%) may limit further upside from this product in FY25-26E. Further, competition in Albuterol may hurt U.S. sales run-rate for couple of quarters while we believe the impact on Ebitda and margins may not be high (less than 4% of sales and Ebitda) and can be absorbed by 10 new launches which the company is targeting for FY25. The company is likely to launch doxycycline and mirabegron along with 7-8 niche products in U.S. in FY25 which may aid single digit growth. Uncertainties over the launch of other key products such as gDulera and tolvaptan ($50 million sales factored in FY26E) prevail. The company has a pipeline of ~20 complex products which can aid growth in U.S. beyond FY27..Click on the attachment to read the full report:.Hindalco - Capex To Drive Next Leg Of Growth; Novelis To Witness Further Margin Gains: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Lupin - Launches Critical For Sustenance Of Turnaround: ICICI Securities

US growth contingent on launches and regulatory compliance; India formulation business to grow at a steady pace

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Lupin - Launches Critical For Sustenance Of Turnaround: ICICI Securities

US growth contingent on launches and regulatory compliance; India formulation business to grow at a steady pace

Choose a plan

Follow Us

DOWNLOAD THE APP