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Andhra Pradesh police have filed a case against YSRCP MP V Vijaysai Reddy and Y Vikranth Reddy for allegedly using coercive methods to fraudulently acquire stakes in Kakinada Seaports Ltd and Kakinada SEZ Ltd. The accusations include cheating, criminal intimidation, and conspiracy, with the stakes reportedly sold at a low price to Aurobindo Realty, now Auro Infra. Senior YSRCP leader Kakani Govardhan Reddy has dismissed the allegations as "political vendetta."
India's "Pharmaceuticals Mission" aims to boost generic production, with simple generics leading the market due to cost-effectiveness and ease of manufacturing. Cardiovascular diseases drive demand, while small molecules dominate product types. Retail pharmacies remain the preferred distribution channel, and key players like Cipla and Teva are expanding their offerings.
Kakinada Seaports MD KV Rao has filed an FIR against former Andhra CM Jagan Mohan Reddy and YSRCP MP Vijay Sai Reddy for allegedly orchestrating the illegal takeover of Kakinada Port shares valued at thousands of crores. The complaint claims that 40% of the port was acquired for Rs 494 crore, significantly below its worth, and highlights accounting irregularities that deprived the government of Rs 1,000 crore in revenue.
Aurobindo Pharma reported an 8% YoY increase in Q2FY25 consolidated revenue to Rs. 7,796 crore, driven by strong U.S. sales and significant growth in Europe and other markets. The company’s EBITDA rose 11.6% YoY to Rs. 1,566 crore, with an improved margin of 20.1%. Geojit Financial Services maintains a BUY rating with a target price of Rs. 1,540, reflecting a positive outlook for the company.
KR Choksey has upgraded Aurobindo Pharma to a "BUY" rating with a target price of INR 1,591, following a stock price correction. Despite revenue meeting estimates, EBITDA and adjusted PAT fell short due to higher expenses and finance costs. The company is expected to achieve an 8.7% CAGR in revenue and a 17.7% CAGR in adjusted PAT from FY24 to FY26, supported by new product launches and improvements in its API business.
On November 9, at least 88 companies, including major players like Asian Paints, Divis Labs, and Aurobindo Pharma, are set to release their Q2 financial results for the July-September quarter. This earnings season, which began last month, is expected to significantly influence market trends and provide insights into India's economic landscape.
The global small-molecule injectable drugs market reached $188.9 billion in 2021, with a projected growth rate of 8% CAGR, expected to hit $837.8 billion by 2030. North America leads the market with a 37% share, driven by increased R&D and product approvals, while Europe is anticipated to grow the fastest due to rising demand for minimally invasive procedures. Intravenous injections accounted for 30% of the market, highlighting their critical role in rapid drug administration.
Pharma giants are experiencing a slowdown in earnings growth, primarily due to their reliance on the US generics market and a lack of major drug launches. Companies like Cipla, Dr Reddy's, and Aurobindo Pharma face challenges from rising competition and impending patent expirations, while midcap firms focused on the domestic market continue to thrive without the same pressures.
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