Aurobindo Pharma, Biocon, Dr Reddy’s Lab and Divi’s Laboratories: Resilient demand points to another good year for Pharma Sector says HSBC
After four difficult years, the India pharma sector rallied in 2020, and HSBC expects the benign operating environment to lead to another good year. HSBC revised their estimates and target prices, and rolled forward our valuations to December 2022e from September 2022e. HSBC also preview Q3 FY21e results, where they expect the recovery to continue for most of the companies that HSBC covers.
HSBC estimates vaccine supplies will result in 10-20% upside to our FY22-23e sales estimates for Dr Reddy’s, Cadila, and Aurobindo Pharma: Reuters