Cipla’s Cost Saving Benefit Continues To Drive Q3 Earnings: Prabhudas Lilladher
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Prabhudas Lilladher Report
Cipla Ltd.’s performance in recent quarter was due to -
1. Covid-19 led products in domestic market 2. launch of gAlbuterol in U.S. and 3. savings in marketing related overheads.
We believe benefit from Covid-19 products will subside gradually and core India formulations to grow in 8-10% range, while next leg of growth will be led by U.S. markets given that -
- launch of one inhalation product each year,
- further ramp-up of gAlbuterol
- launch of gRevlimid in FY23E and
- approval of Tramadol IV (injection).
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