Motilal Oswal: Granules India - Commercial Benefits From Complex Products Underway
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Motilal Oswal Report
Granules India Ltd. efforts of building complex products should transform into money-making opportunities for the company over the next 12-18 months.
The Company has received seven abbreviated new drug application (ANDA) approvals over the past 12 months, which has less than five competitors.
Specifically, the recent ANDA approval for Granules’ g-Focalin XR (market size of 556 million U.S. dolllar and considering five peers), we expect the company to garner 35 million U.S. dollar on an annualized basis post launch of the product.
We remain positive on Granules India due to better growth prospects in the Formulations (finished drugs) business, new product additions in the active pharmaceutical ingredient (API) segment, and reduced costs owing to backward integration.
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