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Alvotech has appointed Dr. Balaji V. Prasad as Chief Strategy Officer, bringing 25 years of pharmaceutical industry experience, including roles at Barclays and Goldman Sachs. Dr. Prasad, who holds an MD and an MBA, aims to leverage his expertise to expand affordable biologics globally, enhancing value for patients and investors. Alvotech focuses on developing biosimilar medicines and has a pipeline of candidates targeting various diseases.
The semaglutides market is projected to grow from $20.54 billion in 2023 to $36.87 billion by 2028, driven by rising diabetes prevalence and increased demand for effective treatments. Key players are innovating with GLP-1 receptor analogues and oral formulations to enhance patient adherence and reduce side effects. North America leads the market, while Asia-Pacific is expected to be the fastest-growing region.
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.
Maruti Suzuki, Hyundai Motor, Escorts, Cipla, Home First Finance, Aster DM, DLF, and Greaves Cotton are set to be in focus on Monday. Investors are encouraged to opt for push notifications to receive relevant updates on their transactions.
Cipla Ltd's promoters, Samina Hamied and Rumana Hamied, are set to sell shares worth Rs 2,000 crore through a block deal, as reported on November 29. They plan to divest 1.72% of their stake, with a floor price of Rs 1,442 per share, reflecting a 6% discount to the current market price. Kotak Securities is expected to facilitate the transaction.
UBS anticipates elevated slippages for Micro Finance companies due to a significant rise in overdues, with Portfolio at Risk for zero days increasing by 130 basis points to 17.5% in October. The firm notes that while recent floods may have impacted collection efficiency, the overall delinquency trend suggests ongoing over-leverage issues. UBS maintains a "neutral" rating on several banks with substantial MFI exposure, as tighter disbursement norms are expected to reduce liquidity for weaker borrowers and exacerbate delinquencies in the latter half of the financial year.
The Sensex surged by 702.50 points to close at 79,746.24, while the Nifty rose by 209.20 points to 24,123.40, driven by gains in pharma, infrastructure, energy, and auto sectors. Despite this rebound, experts caution that ongoing FII selling and other negative factors may hinder a sustained recovery, advising investors to remain cautious.
Cipla has been upgraded to a 'Buy' rating with a target price of Rs 1,730, reflecting a valuation of 27x FY27E EPS. The recent VAI classification of its Goa facility by the USFDA is expected to facilitate the launch of gAbraxane, while the domestic market is set to recover despite a dip in US sales due to gLanreotide supply issues. Cipla's strong net cash position of $1 billion allows for strategic M&A opportunities, and the company is poised for several high-value launches in FY26E and FY27E.
Indian benchmark indices Nifty and Sensex showed a lukewarm performance on November 27, fluctuating in a narrow range amid losses in realty and pharma sectors. The Sensex rose by 35.28 points to 80,039.34, while the Nifty increased by 5.20 points to 24,199.70, with more shares advancing than declining. Analysts suggest that the markets are likely to consolidate at current levels, with foreign institutional investors shifting from selling to marginal buying, despite concerns over potential tariffs proposed by Donald Trump.
InCred Equities has revised its Nifty target down by 3% to 25,327 points, citing a challenging macroeconomic environment and delayed RBI rate cuts. The brokerage upgraded the pharmaceutical sector to "overweight," highlighting positive revisions for stocks like Cipla and Alkem Laboratories, while sectors such as commodities and FMCG faced downgrades. Despite an 8% decline in the Nifty-50 index since mid-September, improved consumer sentiment during the festive season is expected to boost retail demand.
Cipla Limited
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Alvotech appoints Dr Balaji V Prasad as Chief Strategy Officer
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