HDFC Securities' research report on Strides Shasun
After� the� proposed merger of Apotex��s Australia business, with almost 50% market� share, STR will become the largest generic player in the region. It will� also� gain the priority access to 58% of Australian pharmacies.� Till now,� three� large� generic� players� have controlled more than 78% generic market and pharmacy reach had become the major barrier for any new entrant.
Outlook
With� improving� traction� in� both� Australia and US geographies and fresh institutional� orders� for Anti-malarial products, we believe the operating performance� of� the� overall� business is likely to show sharp improvement over� next few quarters. Maintain BUY rating with a TP of Rs 980 (16x FY20E + Rs 30/sh for biopharma).For all recommendations report,�click here
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