Large Cap Pharma Stock To Buy In September For TP Rs 1995, Recommends JM Financial

Brokerage firm JM Financial has recommended investors to buy shares of large cap pharmaceuticals company Sun Pharmaceutical Industries Ltd for target price of Rs 1995. Current market price of Sun Pharmaceutical Industries shares on BSE is Rs 1824.70 apiece. Sun Pharmaceutical Industries shares offered shareholders return of 44.83% so far this year and rose 106% in last 2-years. Its market capitalisation stood at Rs 4,37,795.96 crore. Check details below:

Sun Pharmaceutical Industries Shares Performance: The 52-week high price of Sun Pharmaceutical Industries shares on BSE is Rs 1843.85 per share (as on 05/09/2024) and 52-week low price is Rs 1069.00 per share (as on 31/10/2023), respectively. Sun Pharmaceutical Industries shares gained 61% in last 1-year, soared 131% in last 3-years, and offered return of 322% in last 5-years.

Sun Pharmaceutical Industries Launched Novel Treatment STARIZO In India: As per the BSE filing of August 23, 2024, "Sun Pharmaceutical Industries Limited announced that it has launched Tedizolid Phosphate tablets 200 mg in India under the brand name "STARIZO". STARIZO (Tedizolid Phosphate) is a novel, oxazolidinone-class antibacterial, used to treat Acute Bacterial Skin and Skin Structure Infection (ABSSSI). Sun Pharma has obtained rights from MSD to develop, manufacture and commercialise Tedizolid Phosphate in India."

Sun Pharmaceutical Industries Q1 Results: The leading pharma company announced a jump of 40% YoY in its net profit for Q1FY25 to Rs 2836 crore as against Rs 2023 crore declared in the corresponding quarter of last year. Meanwhile, the revenue from operations zoomed 6% to Rs 12,653 crore as compared to Rs 11,941 crore announced in the similar quarter of last year. During last year's first quarter, "the Group completed the acquisition of 60 percent shareholding in Vivaldis Health and Foods Pvt Ltd for a consideration of Rs 143 crore... Accordingly, the results for the quarter ended June 30, 2023 are not comparable with other periods presented," said Sun Pharma.

The company's India formulation sales soared 16.4% to Rs 4144 crore, accounting approximately 33.1% of total consolidated sales. Sun Pharma introduced six new products in the Indian market during the quarter. US formulation sales declared marginally lower at $466 million, down 1% YoY, but still accounted for more than 31.1% of total consolidated sales.

About: Sun Pharma is the world's fourth largest specialty generics company with presence in Specialty, Generics and Consumer Healthcare products. It is the largest pharmaceutical company in India and is a leading generic company in the US as well as Global Emerging Markets. Sun's high growth Global Specialty portfolio spans innovative products in dermatology, ophthalmology, and onco-dermatology and accounts for over 16% of company sales. The company's vertically integrated operations deliver high-quality medicines, trusted by physicians and consumers in over 100 countries. Its manufacturing facilities are spread across six continents.

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