Company: Ranbaxy
Broking House: Morgan Stanley
Rating: Overweight Price Target: Rs 549
Excluding the one time items, Ranbaxy has reported Q4 results broadly in line with expectations, says Morgan Stanley. For the coming year, the company plans to benefit from its exclusivity pipeline. Exclusivity allows the company to be the only generic supplier of a drug that’s coming off patent for six months. For a best selling drug, the rights could be worth several million dollars. The company’s guidance of a net profit of Rs 460 crore seems to be too low. While there are uncertainties clouding the firm’s outlook, given the exclusivity pipeline, the brokerage has kept its overweight rating on the stock.
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