Shasun Pharmaceuticals
After 3 years of consolidation Shasun Pharma is now ready to move into a
substantive growth phase with a slew of product launches that include
Telapravir and Streptokinase to it's existing pipeline of Ranitidine and
Ibuprofen.
substantive growth phase with a slew of product launches that include
Telapravir and Streptokinase to it's existing pipeline of Ranitidine and
Ibuprofen.
The US based pharma major Vertex Pharmaceuticals recently announced that the
USFDA's antiviral drugs advisory committee voted in favour of approving
Telaprevir as a treatment for Hepatitis C Virus (HCV). The FDA's decision on
Telaprevir's approval status is expected shortly. FDA usually follows the
advice of the advisory committee although it is not binding.
USFDA's antiviral drugs advisory committee voted in favour of approving
Telaprevir as a treatment for Hepatitis C Virus (HCV). The FDA's decision on
Telaprevir's approval status is expected shortly. FDA usually follows the
advice of the advisory committee although it is not binding.
Shasun would be supplying input materials to Vertex for Telaprevir for a
period of 4 years which is expected to drive earnings.
period of 4 years which is expected to drive earnings.
Potential market size for Telaprevir is expected to be US $ 2 Bn. Shasun
would be able to add $ 35 mn to it's top-line owing to Telaprevir.
would be able to add $ 35 mn to it's top-line owing to Telaprevir.
On the bottomline, an incremental EPS of Rs 16 is likely to get added from
this opportunity.
this opportunity.
Taking into consideration the option value for Telaprevir at a multiple
of 3XFY12E, we arrive at a target price of Rs 126.
of 3XFY12E, we arrive at a target price of Rs 126.
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