{"id":1076,"date":"2009-11-20T14:15:05","date_gmt":"2009-11-20T08:45:05","guid":{"rendered":"http:\/\/www.niftylivecharts.com\/blog\/?p=1076"},"modified":"2009-11-20T14:15:10","modified_gmt":"2009-11-20T08:45:10","slug":"stock-update-sun-pharmaceutical-industries","status":"publish","type":"post","link":"https:\/\/www.niftylivecharts.com\/blog\/stock-update-sun-pharmaceutical-industries\/","title":{"rendered":"Stock Update ; Sun Pharmaceutical Industries"},"content":{"rendered":"<h2><span style=\"color: #ff0000;\"><strong>Sun Pharmaceutical Industries<\/strong><\/span><\/h2>\n<h3>Cluster: <span style=\"color: #008000;\">Ugly Duckling<\/span><\/h3>\n<h3>Recommendation: <span style=\"color: #008000;\">Hold<\/span><\/h3>\n<h3>Price target: <span style=\"color: #008000;\">Rs1,491<\/span><\/h3>\n<h3>Current market price: <span style=\"color: #008000;\">Rs1,415<\/span><\/h3>\n<h3><span style=\"color: #ff0000;\">Price target revised to Rs1,491 <\/span><\/h3>\n<p>Sun Pharmaceutical Industries (Sun) has announced three abbreviated new drug application (ANDA) approvals (two final and one tentative) in the past one week, citing a relief on the core business front. The therapeutic approvals received for the US market range from products with a market size of $40 million to $950 million, reflecting Sun?s presence and deep penetration in the regulated markets.<br \/>\nAlthough the two final approvals may attract generic competition, the catch here is that generic companies have started receiving ANDA approvals at a quicker pace for the past couple of quarters. We expect Sun (ex-Caraco Pharmaceuticals [Caraco]) to post a healthy growth of ~25% in the export market during FY2010 on the back of steady approvals.<br \/>\nAt the current market price of Rs1,415, Sun is valued at 21.3x FY2010E and 20.4x its FY2011E fully diluted earnings. With 108 ANDAs pending approval, we expect Sun to report a growth in its base business on the back of niche generics (such as controlled substance) and key first-to-files (FTFs; such as generic Effexor XR). However, given the near-term challenges, we maintain our Hold recommendation on the stock with a revised price target of Rs1,491 (20x its FY2011 earnings).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sun Pharmaceutical Industries Cluster: Ugly Duckling Recommendation: Hold Price target: Rs1,491 Current market price: Rs1,415 Price target revised to Rs1,491 Sun Pharmaceutical Industries (Sun) has announced three abbreviated new drug application (ANDA) approvals (two final and one tentative) in the past one week, citing a relief on the core business front. The therapeutic approvals received [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[3380,3381,3379,3382,3383,3384,3378],"class_list":["post-1076","post","type-post","status-publish","format-standard","category-general","tag-current-market-price-of-sun-pharmaceutical-industries","tag-hold-sun-pharmaceutical-industries","tag-price-target-of-sun-pharmaceutical-industries","tag-recommendation-on-sun-pharmaceutical-industries","tag-sharekhan-updated-price-on-sun-pharmaceutical-industries","tag-sharekhan-updates-current-market-on-sun-pharmaceutical-industries","tag-update-on-sun-pharmaceutical-industries","entry"],"_links":{"self":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/1076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/comments?post=1076"}],"version-history":[{"count":0,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/1076\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/media?parent=1076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/categories?post=1076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/tags?post=1076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}