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Nirmal Bang Report
We have revised our earnings estimates on Sanofi India Ltd. to account for the adverse impact of Insulin Glargine’s inclusion under National List of Essential Medicines 2021 and announced divestment of its Nutraceuticals portfolio to Universal Nutriscience Pvt. Ltd.
We have also raised our operating margins estimates based on the recent performance trends.
With Lantus coming in drug price control order, there is very little incremental risk of NLEM on the earnings.
Potential NLEM inclusion of Lantus has for long been an overhang on Sanofi India and with the event behind us, the uncertainty is over.
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