Sun Pharma stock likely to keep shining amid global specialty scale-up

Focus on key markets to help expand branded formulations business, say experts

The stock of Sun Pharmaceutical Industries, the country’s largest drug maker, was up 5.5 per cent on Friday, after it posted better-than-expected results for the June quarter (Q1FY23). Investors were enthused by the prospects on the global specialty front, product launches, and the outperformance in the domestic market. 

Broad-based growth in Q1 and the growth outlook have prompted brokerages to revise their FY23 earnings estimates by mid-single digits. On a high base, Sun Pharma posted 10 per cent YoY consolidated sales growth to Rs 10,644 crore. But, adjusted for Covid products, sales over the year-ago quarter were up 14 per cent.

Reported