Here’s why Sun Pharma is Citi’s preferred pharma pick

Citi bets big on Sun Pharmaceutical, saying that it's their preferred pharma pick. They have a buy rating on Sun Pharma share, with a target price of Rs 720. They have opened a 90-day positive catalyst watch on Sun Pharma.

They believe that the company's Psoriasis drug, Ilumya, is gaining traction in the US, Europe and Japan. Hence they believe that this will lift the profitability of the specialty business of Sun Pharma that is currently loss-making.

CNBC-TV18’s Nimesh Shah has more details in CNBC-TV18's special segment-Standout Brokerage Report.