Healthcare Q2 Earnings Preview - Domestic Growth To The Fore As U.S. Weakness Persists: ICICI Direct
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ICICI Direct Report
Continuity of domestic formulations growth with increasing share of non Covid-19 portfolio is likely to drive Q2 FY22 sales even as expected weakness in the U.S. generics space could act as a spoiler for overall momentum.
Our healthcare universe (12 coverage companies) is expected to post YoY growth of ~5.5% to ~Rs 46123 crore.
Domestic formulations (select pack) are expected to grow ~14% to Rs 11219 crore due to continuous traction from acute segment (momentum began from Q1) besides normalised trend in the chronic segment.
We expect a significant shift in growth momentum from Covid to non-Covid portfolio on the back of receding active cases and growing vaccination drive across the country.
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