The domestic formulations market has been improving month –on‐ month and has shown a positive growth for the last couple of months. Select companies such as Sun, Lupin, Ipca, Alembic and Indoco will continue to outperform. Rupee movement: Rupee depreciation will continue to help export oriented pharma companies in this quarter. It has depreciated by 13.8% YoY over Q4FY13 and appreciated by 0.75 % Q‐o‐Q over Q3FY14. Yen has depreciated 2% YoY,. however, on preceding quarter yen appreciation has been 3.7 %.
Domestic formulations: IPM growth for 4QFY14 (Jan 14 + Feb 14) is at 6.6% YoY, Companies that have witnessed higher than industry growth in 2M are Sun Pharma (+17.8%), Torrent (+15.7%), Zydus Cadila (+5.9%), Ipca (+26.6%), DRL (+4.5%), Cipla (+5.5%), Lupin (+12.4%), and Alembic Pharma (+12.1%). US market: Overall, there were 21 ANDA approvals in the US market. Lupin has got maximum 5 approvals in our space, Zydus Cadila has 4 approvals while DRL and Sun Pharma has got 3 approvals each. In midcaps, Ipca Labs has received 2 approvals while Alembic and Unichem have also got 1 approval each.
[download id=”92″]
Leave a Reply