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Sun Pharma cues up for US market - Views on News from Equitymaster
 
 
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  • Sep 10, 1999

    Sun Pharma cues up for US market

    According to newspaper reports, Sun Pharmaceuticals Ltd. (SPL) will soon be making three abbreviated new drug applications (ANDAs) in the United States of America (USA). The products covered by these applications fall in the niche therapeutic areas. SPL is among the increasing number of Indian pharmaceutical companies that are entering the US markets.

    With the implementation of the WTO guidelines regarding recognition of product patents just a few years away, pharmaceutical companies in India have begun to spruce up their research and development (R&D) efforts to produce new drugs. The leaders in this area include Ranbaxy Laboratories and Dr Reddy's.

    There is also, however, a growing market for manufacturing drugs going off patent in the US. A number of Indian companies have initiated moves to have a presence in this market. As Indian companies benefit from lower costs, they are able to out-price competition. SPL is aiming to tap into this segment of the US market.

    SPL's move will give it an entry into the lucrative US markets. However, the initial costs are likely to be steep. Moreover, with the competition in this sector intensifying, the company's cost efficiencies will determine its success in the international markets.

    Market View:
    The stock has been rated as a 'BUY' mainly on account of its strong fundamentals and attractive valuations.

     

     

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