Pharma sector stocks in focus: Citi flags competitive setback for Dr Reddy's, Aurobindo in iron sucrose opportunity
Citi has highlighted a potential setback for Indian generic drugmakers Dr Reddy's Laboratories and Aurobindo Pharma after the USFDA approved two generic versions of Iron Sucrose, developed by Viatris and Amphastar. Both companies may be eligible for 180 days of Competitive Generic Therapy (CGT) exclusivity.
The brokerage noted that no Indian pharmaceutical companies have yet announced approvals for this product. Given Iron Sucrose was considered an important pipeline opportunity for Dr Reddy's and Aurobindo, Citi believes the latest development — with competitors moving ahead — suggests this could now be a reduced or lost opportunity for them.
Citi added that it would wait to see if more companies announce approvals before reassessing the competitive landscape for the product.
Disclaimer: The above views are those of Citi. This update is for news reporting purposes only and does not constitute investment advice.
Ahmedabad Plane Crash
Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at BusinessUpturn.com. You can write to her at [email protected]
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