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Stocks of major pharmaceutical companies are seen up next week as a weak rupee is expected to boost export earnings. Irrespective of the recent INR (rupee) appreciation, overall the INR is likely to average lower for the quarter and for the year as a whole, and broadly, we maintain that significant export growth is likely. Sun Pharma's FY13 (Apr-Mar) annual report provides good visibility on key growth levers from its important markets like US and India. However, the sector has also been affected by a slow sales growth in August. In July, the domestic pharmaceuticals market sales had grown 9.4%,
while in August the sales growth was just 1.1%. There is a new policy being implemented so this is a transition phase. In the past few months, the government has been putting out list of new drugs under essential medicines following National Pharmaceuticals Pricing Policy 2012.
Stocks of major pharmaceutical companies are seen up next week as a weak rupee is expected to boost export earnings. Irrespective of the recent INR (rupee) appreciation, overall the INR is likely to average lower for the quarter and for the year as a whole, and broadly, we maintain that significant export growth is likely. Sun Pharma's FY13 (Apr-Mar) annual report provides good visibility on key growth levers from its important markets like US and India. However, the sector has also been affected by a slow sales growth in August. In July, the domestic pharmaceuticals market sales had grown 9.4%,
while in August the sales growth was just 1.1%. There is a new policy being implemented so this is a transition phase. In the past few months, the government has been putting out list of new drugs under essential medicines following National Pharmaceuticals Pricing Policy 2012.
