External broker reports(aggregated public sources), HDFC Securities

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External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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<ul><li>Lupin and Zydus received unfavourable opinion in Mirabegron (gMyrbetriq) patent litigation (against Astellas Pharma) from the District court of Delaware, US</li><li>The Court concludes that Lupin/Zydus did not meet their burden of showing, by clear and convincing evidence, that the ‘780 patent (patent expiry is in Sep’29) is invalid for lack of enablement, written description, or indefiniteness</li><li>The court finds evidence in Astellas’ favour on the validity issue</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lupin and Zydus received unfavourable opinion in Mirabegron (gMyrbetriq) patent litigation (against Astellas Pharma) from the District court of Delaware, USThe Court concludes that Lupin/Zydus did not meet their burden of showing, by clear and convincing evidence, that the ‘780 patent (patent expiry is in Sep’29) is invalid for lack of enablement, written description, or indefinitenessThe court finds evidence in Astellas’ favour on the validity issueContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: Lupin/Zydus lost Myrbetriq patent case in district court 

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>The U.S. has started collecting baseline tariff of 10% from April 5. Reciprocal tariff has been temporarily halted but Indian Pharma companies remain vulnerable to possible tariff threat.</li>
<li>During 9MFY25, the U.S. has been the top exporting destination for Indian pharmaceutical products, with 33% share in the exports.</li>
<li>With negotiations on, India might opt for “zero for zero” tariff approach specifically in the case of Pharmaceutical and Medical devices.</li>
</ul>


The U.S. has started collecting baseline tariff of 10% from April 5. Reciprocal tariff has been temporarily halted but Indian Pharma companies remain vulnerable to possible tariff threat.
During 9MFY25, the U.S. has been the top exporting destination for Indian pharmaceutical products, with 33% share in the exports.
With negotiations on, India might opt for “zero for zero” tariff approach specifically in the case of Pharmaceutical and Medical devices.


US Tariff Impact on APAC Healthcare: Focus Country- INDIA

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We anticipate that pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 10.9% YoY and 0.8% QoQ, along with EBITDA growth of 15.3% YoY and a decline of 1.7% QoQ.</li><li>Moreover, adjusted PAT is expected to grow by 8.7% YoY and decrease by 7.9% QoQ.</li><li>Domestic formulations and niche launches in the US market will likely drive this growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We anticipate that pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 10.9% YoY and 0.8% QoQ, along with EBITDA growth of 15.3% YoY and a decline of 1.7% QoQ.Moreover, adjusted PAT is expected to grow by 8.7% YoY and decrease by 7.9% QoQ.Domestic formulations and niche launches in the US market will likely drive this growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q4FY25 Earnings Preview - Pharma & Healthcare

<ul>
<li>Nippon Shinyaku filed NDA of tagraxofusp for a rare aggressive hematologic malignancy in Japan. Shionogi initiated rolling NDA submission to the FDA for Xocova for COVID-19 post-exposure prophylaxis.</li>
<li>Beigene is discontinuing clinical development program for ociperlimab, as a potential treatment for lung cancer. Celltrion received positive CHMP opinion for the addition of the Omlyclo autoinjector formulation.  </li>
<li>The first three children with SR-aGvHD will receive a course of Mesoblast’s Ryoncil commencing this week. Lupin is acquiring UK-based Renascience Pharma, a sole supplier of 4 specialty products.</li>
</ul>


Nippon Shinyaku filed NDA of tagraxofusp for a rare aggressive hematologic malignancy in Japan. Shionogi initiated rolling NDA submission to the FDA for Xocova for COVID-19 post-exposure prophylaxis.
Beigene is discontinuing clinical development program for ociperlimab, as a potential treatment for lung cancer. Celltrion received positive CHMP opinion for the addition of the Omlyclo autoinjector formulation.  
The first three children with SR-aGvHD will receive a course of Mesoblast’s Ryoncil commencing this week. Lupin is acquiring UK-based Renascience Pharma, a sole supplier of 4 specialty products.


APAC Healthcare Weekly (April 6)- Nippon Shinyaku, Shionogi, Beigene, Celltrion, Mesoblast, Lupin

<ul><li>The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from India</li><li>However, pharmaceutical products were exempted from the first round of tariffs</li><li>This is a positive for the sector, which has been under a tariff overhang since the last 2-3 months</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from IndiaHowever, pharmaceutical products were exempted from the first round of tariffsThis is a positive for the sector, which has been under a tariff overhang since the last 2-3 monthsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: Pharma dodges first round of US tariff risk

India

Lupin Limited manufactures bulk actives and formulations. The principal bulk actives manufactured by it include Rifampicin, Pyrazinamide, Ethambutol (anti-TB), Cephalosporins (anti-infectives) and cardiovasculars. The company also possesses competencies in phytomedicines, in which medicines are made out of plant and herbal resources supported by the discipline of modern medicine.

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Lupin Ltd (LPC IN)

Pharmaceuticals: Lupin/Zydus lost Myrbetriq patent case in district court

Lupin and Zydus received unfavourable opinion in Mirabegron (gMyrbetriq) patent litigation (against Astellas Pharma) from the District court of...

HDFC Securities

US Tariff Impact on APAC Healthcare: Focus Country- INDIA

US imposed baseline tariff from April 5. Reciprocal tariff has been temporarily halted but Indian Pharma companies remain vulnerable. U.S. has been...

Tina Banerjee

Q4FY25 Earnings Preview - Pharma & Healthcare

Moreover, adjusted PAT is expected to grow by 8.7% YoY and decrease by 7.9% QoQ. Domestic formulations and niche launches in the US market will...

Axis Direct

APAC Healthcare Weekly (April 6)- Nippon Shinyaku, Shionogi, Beigene, Celltrion, Mesoblast, Lupin

Nippon Shinyaku and Shionogi are filing for new drugs. Beigene dropped a phase 3 oncology asset. Mesoblast is about to start treatment with...

Tina Banerjee

Pharmaceuticals: Pharma dodges first round of US tariff risk

The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from India

HDFC Securities

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