Lupin, Cipla and Aurobindo: Axis Securities advises to buy these 3 pharma firms after Q1 earnings – key reasons

August 30, 2023
News
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Source: mintgenie.livemint.com

In the June quarter (Q1FY24), the pharma space posted robust revenue growth on account of volume ramp-up, new launches (especially Revlimid), and stabilising pricing pressure in the US base business, said brokerage house Axis Securities in a review note.

The brokerage’s pharma coverage universe posted a 20.5 percent YoY rise in revenue for the quarter under review, adding that the EBITDA margin improved by a healthy 581 bps and 234 bps, YoY and QoQ, respectively amidst normalising cost inflation and stabilising prices.

According to Axis, US sales were robust, aided by gRevlimid, new launches, and increased demand for resilient suppliers amid drug shortages. Also, US price erosion has been stabilising due to the benefit from drug shortages which are at an all-time high.

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