Pharma Earnings Preview - Domestic Branded Formulation To Drive Q1: Nirmal Bang

 Tablets drop into a collection bin at  a drug manufacturing unit.  (Photographer: Andrey Rudakov/Bloomberg)

Pharma Earnings Preview - Domestic Branded Formulation To Drive Q1: Nirmal Bang

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Nirmal Bang Report

We expect Q1 FY22 revenue and margins to improve for most pharmaceutical companies in our coverage universe, led by strong growth in domestic branded formulation sales.

Domestic formulation year-on-year sales growth was aided by a surge in demand for Covid-19 drugs and a subdued base since Q1 FY21 was a wash-out on account of the nationwide lockdown.

The U.S. revenues remained flattish with most companies growing by less than 2% in volume terms on a sequential QoQ basis.

However, Cipla Ltd. has been an exception as it has registered 5% QoQ volume growth in the U.S. market.

Click on the attachment to read the full report:

Nirmal Bang Pharmaceutical Sector- June 2021 Quarter Result Preview.pdf


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