Aurobindo Pharma Q4 Review - Higher R&D Spend Offsets Benefit Of Better Operating Leverage: Motilal Oswal

Aurobindo Pharma Ltd.’s manufacturing facility. (Source: Company website).

Aurobindo Pharma Q4 Review - Higher R&D Spend Offsets Benefit Of Better Operating Leverage: Motilal Oswal

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Motilal Oswal Report

Aurobindo Pharma Ltd. delivered an operationally in-line Q4 FY21.

The outlook for the injectables segment continues to improve on the back of better traction in existing products, new introductions, and healthy pipeline build-up comprising complex products.

The vaccine space remains interesting for the company in terms of regulatory filings as well as contract manufacturing.

We have reduced our FY22E/FY23E earnings per share estimate by 3%/2% to reflect Covid-19 related slowdown in Europe/growth markets and increased research and development spends towards complex products.

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Motilal Oswal Aurobindo Pharma Q4FY21 Result Update.pdf

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