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Hospira receives USFDA approval for Docetaxel, positive for Cadila
Hospira, Inc. has received the USFDA approval for Docetaxel, generic version of SanofiAventis's Taxotere, an anti cancer product. Hospira is expected to launch the product later
this month. US sales of Taxotere were ~US $1.2bn in 2010. This is a positive development
for Cadila Healthcare, which has a 50:50 JV with Hospira for six oncology products, of
which Docetaxel is also a part. We expect Cadila to garner US $30mn from this product,
which leads to an incremental 5% on our estimated EPS of `39.6 in FY2012. However, at
current valuations, the stock trades at 18.5x FY2012E. We recommend Accumulate on the
stock with a target price of `832.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Hospira receives USFDA approval for Docetaxel, positive for Cadila
Hospira, Inc. has received the USFDA approval for Docetaxel, generic version of SanofiAventis's Taxotere, an anti cancer product. Hospira is expected to launch the product later
this month. US sales of Taxotere were ~US $1.2bn in 2010. This is a positive development
for Cadila Healthcare, which has a 50:50 JV with Hospira for six oncology products, of
which Docetaxel is also a part. We expect Cadila to garner US $30mn from this product,
which leads to an incremental 5% on our estimated EPS of `39.6 in FY2012. However, at
current valuations, the stock trades at 18.5x FY2012E. We recommend Accumulate on the
stock with a target price of `832.
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