Pharma Stocks Outlook for the week – 17 to 21.07.2017
Pharma Stocks Outlook for the week – 17 to 21.07.2017
( www.rupeedesk.in )
Stock of pharmaceutical companies is expected to rise next week, aided by the positive sentiment in the broader market. Mood in the broader market is seen buoyant in the week ahead as the case for a rate cut from the Reserve Bank of India strengthened after retail inflation for June hit a record low, while wholesale price index-based inflation rate slumped to an 11-month low. Market participants are also bullish on Biocon, which soared nearly 10% to hit a lifetime high of 404.45 rupees intra-day today as the US Food and Drug Administration's Oncology Drugs Advisory Committee unanimously recommended an approval to the company's biosimilar to trastuzumab. The Bengaluru-based company and its partner Mylan NV are now one-step closer getting the USFDA's final approval for their biosimilar. However, investors may maintain some caution ahead of the Apr-Jun earnings of companies. Many expect earnings of pharmaceutical companies to be weak. Most companies in our coverage universe are expected to report weak US sales due to high revenue base in 1QFY17 (Apr-Jun), steep price erosion led by faster ANDA (abbreviated new drug application) approvals and channel consolidation.
Source : Cogencis Information Services Ltd.
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Pharma Stocks Outlook for the week – 17 to 21.07.2017
( www.rupeedesk.in )
Stock of pharmaceutical companies is expected to rise next week, aided by the positive sentiment in the broader market. Mood in the broader market is seen buoyant in the week ahead as the case for a rate cut from the Reserve Bank of India strengthened after retail inflation for June hit a record low, while wholesale price index-based inflation rate slumped to an 11-month low. Market participants are also bullish on Biocon, which soared nearly 10% to hit a lifetime high of 404.45 rupees intra-day today as the US Food and Drug Administration's Oncology Drugs Advisory Committee unanimously recommended an approval to the company's biosimilar to trastuzumab. The Bengaluru-based company and its partner Mylan NV are now one-step closer getting the USFDA's final approval for their biosimilar. However, investors may maintain some caution ahead of the Apr-Jun earnings of companies. Many expect earnings of pharmaceutical companies to be weak. Most companies in our coverage universe are expected to report weak US sales due to high revenue base in 1QFY17 (Apr-Jun), steep price erosion led by faster ANDA (abbreviated new drug application) approvals and channel consolidation.
Source : Cogencis Information Services Ltd.
