External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>The Pharma companies under our coverage are likely to report aggregate Revenue/EBITDA/PAT growth of 17.4%/23.8%/25.2% YoY in Q2FY24E.</li><li>The growth is likely to be led by value-added new launches, market share expansion, and strong momentum in the Indian market.</li><li>A high double-digit growth in the US market was led by gRevlimid and other value-added launches despite intense competition and low singledigit growth witnessed in the basic generic business. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Pharma companies under our coverage are likely to report aggregate Revenue/EBITDA/PAT growth of 17.4%/23.8%/25.2% YoY in Q2FY24E.The growth is likely to be led by value-added new launches, market share expansion, and strong momentum in the Indian market.A high double-digit growth in the US market was led by gRevlimid and other value-added launches despite intense competition and low singledigit growth witnessed in the basic generic business. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<div><div><div><div><ul><li>The Pharma companies under our coverage are likely to report aggregate Revenue/ EBITDA/PAT growth of 22.1%/50.4%/39.5% YoY in Q1FY24E.</li><li>The growth is likely to be led by value-added new launches, market share expansion, and strong momentum in the Indian market.</li><li>High double-digit growth was seen in the US market, which was led by gRevlimid and other value-added launches despite intense competition and high single-digit growth in the basic generic business. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Pharma companies under our coverage are likely to report aggregate Revenue/ EBITDA/PAT growth of 22.1%/50.4%/39.5% YoY in Q1FY24E.The growth is likely to be led by value-added new launches, market share expansion, and strong momentum in the Indian market.High double-digit growth was seen in the US market, which was led by gRevlimid and other value-added launches despite intense competition and high single-digit growth in the basic generic business. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equity Bottom-Up

Dr. Reddy's Laboratories / Equity Bottom-Up

<ul><li>gRevlimid sales ($125 Mn), led to the overall growth of the US business to $370 Mn (+47%, YoY).</li><li>The rest of the US-based portfolio ($245 Mn), stayed flat due to low volume in Ciprodex and Vasopressin.</li><li>The India business grew by 10% YoY which is as per the expectation of IPM growth.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

gRevlimid sales ($125 Mn), led to the overall growth of the US business to $370 Mn (+47%, YoY).The rest of the US-based portfolio ($245 Mn), stayed flat due to low volume in Ciprodex and Vasopressin.The India business grew by 10% YoY which is as per the expectation of IPM growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dr Reddy Lab Ltd - GRevlimid-Fuelled Growth in the US

<div><div><div><div><ul><li>In Q3FY23, the Pharma sector is expected to benefit from positive attributes such as currency depreciation, fall in raw material prices, low crude prices, and correction in shipping prices which would aid in revenue growth and improvement in gross margins.</li><li>We expect the Pharma universe under our coverage to report healthy aggregate Revenue/EBITDA/PAT growth of 7.4%/9.5%/9.1% YoY. 8% depreciation in the Indian currency (Rs) may majorly contribute to the overall growth of 7.4% for the last quarter.</li><li>Low single-digit growth in the US market (due to intense competition) and low double-digit growth in the India business after Covid-19 business has now stabilised. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In Q3FY23, the Pharma sector is expected to benefit from positive attributes such as currency depreciation, fall in raw material prices, low crude prices, and correction in shipping prices which would aid in revenue growth and improvement in gross margins.We expect the Pharma universe under our coverage to report healthy aggregate Revenue/EBITDA/PAT growth of 7.4%/9.5%/9.1% YoY. 8% depreciation in the Indian currency (Rs) may majorly contribute to the overall growth of 7.4% for the last quarter.Low single-digit growth in the US market (due to intense competition) and low double-digit growth in the India business after Covid-19 business has now stabilised. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<div><div><div><div><ul><li>Dr Reddy’s Laboratories Ltd (DRREDDY) is a global pharmaceutical company committed to providing access to affordable and innovative medicines.</li><li>DRREDDY offers a portfolio of products and services including APIs, Generics, Branded Generics, Biosimilars, and OTC.</li><li>DRREDDY has major therapeutic areas of focus, which are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology and major markets include – USA, India, Russia &amp; CIS countries, China, Brazil and Europe.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Dr Reddy’s Laboratories Ltd (DRREDDY) is a global pharmaceutical company committed to providing access to affordable and innovative medicines.DRREDDY offers a portfolio of products and services including APIs, Generics, Branded Generics, Biosimilars, and OTC.DRREDDY has major therapeutic areas of focus, which are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology and major markets include – USA, India, Russia &amp; CIS countries, China, Brazil and Europe.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - Dr Reddy’s Laboratories Ltd

India

Dr. Reddy's Laboratories Limited provides a complete range of pharmaceutical services. The Company manufactures bulk drugs and formulations including verapamil and cephalexin. The Company also manufactures and exports molecules such as norfloxacin, ciprofloxacin, and varieties of semi-synthetic penicillin. The Company markets its products in India and around the world.

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Dr. Reddy's Laboratories (DRRD IN)

Pharma - Q2FY24 - Earnings Preview

The Pharma companies under our coverage are likely to report aggregate Revenue/EBITDA/PAT growth of 17.4%/23.8%/25.2% YoY in Q2FY24E.

Axis Direct

Pharma - Q1FY24 - Earnings Preview

The Pharma companies under our coverage are likely to report aggregate Revenue/ EBITDA/PAT growth of 22.1%/50.4%/39.5% YoY in Q1FY24E.

Axis Direct

Dr Reddy Lab Ltd - GRevlimid-Fuelled Growth in the US

gRevlimid sales ($125 Mn), led to the overall growth of the US business to $370 Mn (+47%, YoY). The rest of the US-based portfolio ($245 Mn),...

Axis Direct

Pharma - Q3FY23 - Earnings Preview

Low single-digit growth in the US market (due to intense competition) and low double-digit growth in the India business after Covid-19 business has...

Axis Direct

Pick of the Week - Dr Reddy’s Laboratories Ltd

Dr Reddy’s Laboratories Ltd (DRREDDY) is a global pharmaceutical company committed to providing access to affordable and innovative medicines.

Axis Direct

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