Sun Pharmaceutical Industries slipped 3.08% to Rs 1,605.70 after a foreign brokerage downgraded the stock to 'underperform' from 'neutral' and cut its target price to Rs 1,570 from Rs 1,730.
The broker cited stretched valuations and slower-than-expected traction in speciality drugs. It flagged concerns around psoriasis drug Ilumya's heavy Medicare exposure, potential pricing pressures, and limited earnings visibility despite strong initial uptake. It warned that a 10% price cut in Ilumya could erode Sun Pharmas EPS by 4%.Sun Pharmaceutical Industries is the largest pharmaceutical company in India and is a leading generic company in the US as well as Global Emerging Markets.
The companys consolidated net profit tumbled 19.64% to Rs 2,278.63 crore despite of 10.07% increase in revenue from operations to Rs 13,786.07 crore in Q1 FY26 over Q1 FY25. The drop in profit was primarily due to a one-time exceptional charge of Rs 818 crore during the quarter.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
