ICICI Securities: Pfizer’s Growth Visibility In Domestic Market Aided By Strong Balance Sheet

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Pfizer Ltd. held a call to discuss the Q1 FY21 results and impact from the pandemic. We cover the highlights below:The pandemic caused significant reduction in patient footfall to the out patient departments (OPD)s, delay in elective surgeries, etc., which affected the overall demand during the quarter.Most affected were therapies that required physical presence (oncology, vaccines, etc.). Company’s established brands performed well during the quarter growing 13%.But its Hospital/Critical Care segment (approximately 20% of sales) and vaccines were the worst affected reporting a decline of 41% and 23% respectively.Apart from shutdown in the first few days of the lockdown, company’s Goa plant and its other outsourced plants were operational throughout the quarter. In order to support the channel, company provided working capital loans as well as provided insurance to stockists.Company utilised digital medium to reach healthcare professionals using Virtual Client Connect. Company conducted more than 20,000 paediatric and 10,000 hospital doctors connect using this platform.However, the field force became active since the first week of June 2020 and currently 60-70% of the workforce is active..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: Pfizer’s Growth Visibility In Domestic Market Aided By Strong Balance Sheet

Pfizer provided working capital loans as well as insurance to stockists during the lockdown period, ICICI Securities says.

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