Sun Pharmaceutical (SUNP IN): Q2 Result Beats Estimate; Specialty Business to Face Growth Challenge
210 Views31 Oct 2024 00:50
SUMMARY
- Sun Pharmaceutical Industries (SUNP IN) Q2FY25 net profit jumped 28% YoY to INR30B on 11% YoY growth in revenue. U.S. and India formulation businesses grew 22% and 11%, YoY, respectively.
- Due to deferral of clinical trials of some specialty products, the company has cut R&D investment guidance by 200bps to 7–8% of revenue for FY25 from earlier 8–10%.
- With Leqselvi launch becoming uncertain and few others still in late-stage trials, there is no immediate driver to accelerate specialty business momentum.
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Tina Banerjee
Global Healthcare Analyst
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