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India Pharmaceuticals Conference
Key takeaways
The Anand Rathi Institutional Equities ‘India Pharmaceuticals
Conference’, held in Mumbai on 17-18 Feb ’11, featured eleven
listed companies, and one unlisted. Companies participating
represented a diverse spectrum–from the larger and wellestablished
leaders to emerging ones.
Key takeaways. The industry outlook for domestic formulations,
exports and CRAMS remains strong. Pharma companies (excl.
CRAMS) have seen robust 15%+ growth in the past 12 months.
The growth outlook for the industry is sound; margins may be at
current levels in the near to mid term due to expansion plans.
Patent expiries would offer huge opportunities for pharma
companies, including large and small players. API players would
also benefit from API supply contracts when patents expire. The
nutraceuticals and herbal products business is expected to gain
traction and emerge as a new growth area. CRAMS has seen a
slowdown in the past couple of years and would revive from
FY12. Overall, the industry outlook is sound and companies are
ready to make the most of growth opportunities.
Interesting stock ideas. Aurobindo (significant growth potential
with a ready product range and manufacturing base), Glenmark
(set to grow well in the US and India), Natco (key product
opportunities), Unichem (focus continues in the domestic market,
supply contracts for niche APIs in regulated markets and a zerodebt
company with free-cash-flow generation), Fortis Healthcare
(expansion continues, to benefit from the demand-supply gap and
internal accruals to take care of capex plans) and Elder Pharma
(strong growth continues in domestic formulations and recent
approval from the Japanese government for its API plant).
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India Pharmaceuticals Conference
Key takeaways
The Anand Rathi Institutional Equities ‘India Pharmaceuticals
Conference’, held in Mumbai on 17-18 Feb ’11, featured eleven
listed companies, and one unlisted. Companies participating
represented a diverse spectrum–from the larger and wellestablished
leaders to emerging ones.
Key takeaways. The industry outlook for domestic formulations,
exports and CRAMS remains strong. Pharma companies (excl.
CRAMS) have seen robust 15%+ growth in the past 12 months.
The growth outlook for the industry is sound; margins may be at
current levels in the near to mid term due to expansion plans.
Patent expiries would offer huge opportunities for pharma
companies, including large and small players. API players would
also benefit from API supply contracts when patents expire. The
nutraceuticals and herbal products business is expected to gain
traction and emerge as a new growth area. CRAMS has seen a
slowdown in the past couple of years and would revive from
FY12. Overall, the industry outlook is sound and companies are
ready to make the most of growth opportunities.
Interesting stock ideas. Aurobindo (significant growth potential
with a ready product range and manufacturing base), Glenmark
(set to grow well in the US and India), Natco (key product
opportunities), Unichem (focus continues in the domestic market,
supply contracts for niche APIs in regulated markets and a zerodebt
company with free-cash-flow generation), Fortis Healthcare
(expansion continues, to benefit from the demand-supply gap and
internal accruals to take care of capex plans) and Elder Pharma
(strong growth continues in domestic formulations and recent
approval from the Japanese government for its API plant).
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