Zydus Lifesciences Q2 Results Review - Steady Performance; U.S. Pipeline, India Traction Key: ICICI Direct
Zydus Lifesciences' revenues grew 9.2% YoY at Rs 4134 crore, driven by the U.S. followed by India business.
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ICICI Direct Report
Zydus Lifesciences Ltd. delivered an in line performance with our estimates but beat on the U.S. front, driven by gRevlimid launch among others.
Zydus Lifesciences' revenues grew 9.2% YoY at Rs 4134 crore, driven by the U.S. followed by India business. Ebitda de-grew 5.3% YoY to Rs 815 crore. Ebitda margins declined 303 basis points YoY to 19.7 %.
India sales increased 4.3 % YoY to Rs 1265 crores, on the back of market share gains and improved performance in therapies viz. cardiovascular, gynaecology, respiratory and gastro intestinal.
Adjusting for Covid, growth was ~11%. U.S. formulations revenues increased 14% YoY to Rs 1708 crore on the back of 10 new launches especially gRevlimid.
Emerging markets revenues declined 5.2% YoY to Rs 331 crore. This business grew 24% YoY, excluding revenue of Covid related products from the base.
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