INSUBCONTINENT EXCLUSIVE:
Prabhudas Lilladher has a reduce call on Sun Pharmaceutical Industries Ltd
with a target price of Rs 447
The current market price of Sun Pharmaceutical Industries Ltd
is Rs 474.5 Time period given by the brokerage is Two Years when Sun Pharmaceutical Industries Ltd
price can reach defined target
Sun Pharmaceutical Industries Ltd., incorporated in 1993, is a larg-cap company with a market cap of Rs 113739.92 crore
The market share and prescriptions for Absorica decreased in Q1CY18
Absorica's (market size of US$150?160m) market share, which peaked at 25% during 2017, ended at approximately 11?12% in Q1CY18, similar to
lose market share in the drug
to 11%) with aggressive strategies, gained market share, while Dr
Reddy and Sun Pharma lost market share in Q1CY18
Sun Pharma reduced shipments to their distributors as inventory levels were adjusted to reflect the previously mentioned decrease in
demand.
Cipher expects Absorica sales to be muted for this quarter as well
We believe Sun Pharma, being marketing partner for this product, would face the heat in Q4FY18 and going forward
The stock currently trades at 29x and 26x FY19E and FY20E respectively
