Continuing with our positive stance on the pharmaceutical generic opportunities, we take the liberty of repeating Aurobindo Pharma after having achieved the initial target of Rs 1250, as GEPLs pick of the week, now recommended at the price of Rs 1292 and a target of Rs 1550 over the next 12 months. The company is well on track in terms of shifting to high margin formulations from API and increasing its exposure to the ARV space. With additional facilities getting functional, Aurobindo is better positioned to cater to the increasing demand. It is gradually building up on the CRAMS customer pipeline to ramp up this segment of business. With respect to the MNC alliances, the company has extended the Pfizer deal adding more products in the offerings as well as exploring new markets. It has also entered into a licensing and supply arrangement with Astrazeneca for emerging markets. Thus, with all these triggers shaping up a positive outlook for the company we recommend a BUY on the stock.
Published by geplcapital
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