Pharma, Healthcare Q2 Earnings Preview - India Growth To Remain Strong; U.S. Likely To Drag: ICICI Securities
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ICICI Securities Report
We expect pharma and healthcare companies under our coverage to report subdued growth during the quarter ended September 2021 (Q2 FY22) mainly due to pricing pressure in U.S. business.
India business will witness strong growth, despite reducing contribution of Covid-19 related sales, led by robust growth in acute segment and continuous momentum in chronic segment.
U.S. revenue is likely to remain flattish QoQ (decline YoY) amid increasing competition in base business and slowdown in new launches.
We estimate India business to grow in mid to high double digit as per secondary sales data.
Hospitals and diagnostics will report healthy YoY rise on a low base, but likely to be down QoQ.
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