ICICI Direct: Laurus Labs’ Vertically Integrated Story Panning Out
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ICICI Direct Report
Laurus Labs Ltd. Q2 revenues grew approximately 60% to Rs 1,139 crore amid strong growth across segments driven by a 182.7% YoY jump in formulations to Rs 452 crore due to higher tender business from low- and middle-income countries and new launches.
Active pharmaceutical ingredient segment posted a strong growth of 22.4% YoY to Rs 571 crore amid strong traction across antiviral, oncology and other APIs.
Similarly, contract research and manufacturing services business grew approximately 35% YoY to Rs 116 crore.
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