Pharmaceutical companies' headline numbers in Q3 of FY21 were in line to better than estimates. CLSA, in fact, says that 60 percent of the companies under their coverage reported better than expected EBITDA margins in Q3.
Analysing the two major markets for pharma companies—US and India, the US grew year-on-year indicating normalising trends post COVID-19. Sun Pharma and Cipla were led by their specialty sales portfolio. India sustained its momentum despite a high base with Cipla, Glenmark aided by their COVID-19 portfolio growth in Q3.
Overall the earnings have been upgraded for the second consecutive quarter for pharmaceutical companies and analysts expect this momentum to continue.
Watch the accompanying video of CNBC-TV18’s Ekta Batra to know how was Q3 for the pharma sector and what are the triggers ahead for stocks in the near-term.
(Edited by : Ajay Vaishnav)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
