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ICICI Direct Report
Our pharma universe is likely to witness a decent quarter amid strong YoY growth in domestic formulations and a stable U.S. portfolio amid favorable currency movement and some key launches. The universe (13 coverage companies) is expected to post YoY growth of ~12% to ~Rs 49,648 crore.
Domestic formulations (select pack) are expected to post robust growth of 12.2% YoY to Rs 13,513 crore on the back of-
uptick in volumes of chronic and sub-chronic therapies,
full quarter impact of price hikes and
benefits from new introductions and field force expansion.
On the U.S. front, single digit price erosion persisting in the oral solids base business is expected to be offset by-
new launches,
continued momentum in specialty/complex portfolio and
~7.5% YoY impetus of rupee versus U.S. dollar movement in the last quarter.
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