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Shares of drugmakers like Dr Reddy’s Laboratories, Cadila Healthcare, Lupin and Aurobindo Pharma were up today as broker CLSA says, the drugmakers’ transition to making complex generics from simple should drive significant re-rating.
Drugs worth $100 billion, especially in biologics, are losing patent protection over next five years in the United States, it says.
Dr. Reddy’s Laboratories gained as much as 3.2 per cent to mark a record high of Rs 4,326.50. CLSA says the company’s profit can increase to $1 billion by FY20 as products unfold.
Also, Dr. Reddy’s has announced collaboration with Amgen in India.
Cadila Healthcare rose 2 per cent as CLSA has upgraded the stock to “outperform’’ from “underperform’’ citing differentiated drug pipeline.
Lupin and Aurobindo Pharma were also up nearly 2 per cent each on rising prospects of their US businesses, according to analysts.
Lupin plans to to revive US growth with $880 million GAVIS deal.
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