Cadila Healthcare share price: Motilal Oswal raises target price to Rs 670
Motilal Oswal says Cadila Healthcare received Restricted Emergency Use approval from the Drug Controller General of India (DCGI) for the use of ‘Virafin’, Pegylated Interferon alpha-2b (PegIFN), in treating moderate COVID-19 infections. Considering the drug’s potential in reducing the need for supplemental oxygen and its better efficacy against other viral infections, Motilal Oswal says it expects sales of Rs 2.5 – 3 bn on an annualized basis
Motilal Oswal has valued Cadila Healthcare at 23x 12M forward earnings to arrive at Target Price of Rs 670. The vaccine prospect may be a potential trigger over the medium term: Reuters