BUZZ-Indian drugmaker Cipla falls on JPM downgrade to "neutral"

Reuters01-27
BUZZ-Indian drugmaker Cipla falls on <a href="https://laohu8.com/S/JPM">JPM</a> downgrade to "neutral"

** Shares of Cipla CIPL.NS fall 1.1% to 1,300 rupees, lowest since January 2024

** JP Morgan downgrades India's No.3 drugmaker to "Neutral" with PT of 1,460 rupees after it reported disappointing Q3 results

** Brokerage says co's Q3 revenue was 5% below JPM's estimate, mainly due to sharp decline in US sales and weaker African market growth

** Co's U.S. revenue fell 26% year-on-year due to sharp decline in sales of its generic version of Bristol-Myers Squibb's BMY.N cancer drug Revlimid due to its imminent patent expiry and a month long supply chain disruption on key tumour therapy Lanreotide - note

** Brokerage says while Cipla's pipeline offers long-term promise with four respiratory and four peptide assets, it sees material contribution starting only from FY28

** Stock fell 0.96% in 2025

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment