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The Print
a day ago
- Health
- The Print
Lilly launches Mounjaro pen in India at Rs. 14,000 for starting dose, stepping up Novo rivalry – ThePrint
Mounjaro Kwikpen is available in six dose strengths — 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg and 15 mg — with pricing calculated for a month's supply. Lilly said in June it received approval from India's drug regulator for its once-weekly Mounjaro Kwikpen, two days after Novo Nordisk launched Wegovy in multiple dose strengths in a similar pen device. Hyderabad: Eli Lilly on Wednesday launched the easy-to-use injector pen of its blockbuster weight-loss drug Mounjaro for 14,000 rupees (nearly $160) for its starting dose of 2.5 mg in India, stepping up competition with Novo Nordisk. The smallest two doses are priced at 14,000 and 17,500 rupees, respectively, and the 7.5 mg and 10 mg doses cost 22,000 rupees. The 12.5 mg and 15 mg doses cost 27,500 rupees, the company said. 'If we look at how the highest doses of Mounjaro and Wegovy are priced, it appears (that) Mounjaro's pricing is attractive and competitive,' said Vishal Manchanda from Systematix Institutional Equities. Wegovy's smallest doses of 0.25 mg, 0.5 mg and 1 mg cost 17,345 rupees a month, and its highest doses of 1.7 mg and 2.4 mg cost 24,280 rupees and 26,015 rupees a month, respectively. Lilly began selling Mounjaro in India in late March for diabetes and obesity in 2.5 mg and 5 mg vials. Both drugs have seen strong demand since then, with sales in July doubling month-on-month. The drugs belong to a class of therapies known as GLP-1 receptor agonists that help control blood sugar and slow digestion, making people feel fuller for longer. ($1 = 87.6650 Indian rupees) (Reporting by Kashish Tandon in Bengaluru and Rishika Sadam in Hyderabad; Editing by Janane Venkatraman) This report is auto-generated from Reuters news service. ThePrint holds no responsibility for its content.
Mint
28-07-2025
- Business
- Mint
Indias Kotak Mahindra Bank slumps as earnings spark asset quality concerns
(Reuters) -Shares of India's Kotak Mahindra Bank were on track for their worst day in more than a year on Monday, as a quarterly earnings miss sparked concerns of worsening asset quality. The stock fell 6.4% to 1,988.60 rupees, the lowest since mid-March and was the worst performer on India's benchmark Nifty 50 index, which slipped 0.1%. Kotak was also the top laggard on the bank and private bank indexes. At least eight analysts slashed their price targets on the "buy"-rated stock after the private lender missed quarterly profit estimates on higher provisions for potential bad loans. Asset quality pain continued for Kotak and stress in the retail commercial vehicles segment is expected to rise further, analysts at Ambit said. "Considering such volatility, and limited availability of buffer provisions, we expect fiscal 2026 credit costs to remain elevated," they said. Kotak, like several Indian banks, has been grappling with rising bad loans in the unsecured loan segment. Its gross non-performing assets ratio worsened to 1.48% of total loans at the end of June from 1.39% a year earlier. Its net interest margin, a key gauge of profitability, dropped to 4.65% from 5.02% a year earlier, reflecting the impact of the Reserve Bank of India's interest rate cuts. Analysts at Emkay Global expect the margin to contract further in the second quarter, with a gradual recovery expected from the third quarter. When interest rates are lowered, banks typically pass on the benefits to borrowers early, followed by lower deposit rates, which can temporarily squeeze margins. Earlier this month, peer Axis Bank also reported disappointing results, which fanned concerns of declining asset quality. The session's losses have trimmed Kotak's year-to-date gains to 11%, versus a 10% climb in the private banks index. (Reporting by Kashish Tandon in Bengaluru; Editing by Sumana Nandy and Mrigank Dhaniwala)
Mint
25-07-2025
- Business
- Mint
Indias Bajaj Finance drops on asset quality woes, higher credit costs
(Reuters) -Shares of Bajaj Finance were on track for their worst day in three months on Friday, as concerns over worsening asset quality and high credit costs overshadowed strong loan growth. Bajaj Finance fell as much as 6.4% in early trade and was last down about 5% at 916 as of 10:04 a.m. IST, making it the top loser on both the financials sub-index and the benchmark Nifty 50, which were down 0.6% each. The non-banking lender reported June-quarter profit ahead of estimates, but its gross non-performing asset ratio deteriorated to 1.03%, compared with 0.96% in the previous quarter and 0.86% a year ago. Loan losses and provisions grew 26% on-year, with the lender saying credit costs remained elevated during the quarter. Analysts at Goldman Sachs said they do not expect growth to pick up in the near term, citing ongoing stress in Bajaj Finance's selected unsecured portfolios and limited room for net interest margin expansion. UBS analysts also flagged concerns, noting the company's outlook on near-term credit costs and assets under management for fiscal 2026 was "weaker than expected." Bajaj Finace has been grappling with higher loan losses in the last few quarters, especially in the unsecured segment. Average rating of 31 analysts on Bajaj Finance is at "buy," with a median price target of 975.50 rupees, as per data compiled by LSEG. The stock has been the best year-to-date performer on 20-member financials index with its 34% climb, compared with the index's 14.4% gain. Benchmark Nifty 50 has gained 5.5% so far in 2025. (Reporting by Kashish Tandon and Manvi Pant; Editing by Sumana Nandy and Nivedita Bhattacharjee)
Al Bawaba
28-05-2025
- Business
- Al Bawaba
Markaz hosts exclusive investor session on private credit trends and portfolio strategies
Kuwait Financial Centre 'Markaz' recently hosted an exclusive event for clients to hear insights into private markets and private credit from BlackRock, one of the world's largest investment management firms. Tailored for qualified and professional investors, the session formed part of Markaz's ongoing efforts to equip clients with timely market updates and access to global investment strategies. The event reflects Markaz's long-standing commitment to offering innovative, best-in-class investment solutions, while reinforcing the growing importance of private credit as a potentially resilient and strategic asset class in today's dynamic market session saw strong interest and participation from attendees, reflecting the rising demand among regional investors for differentiated and income-generating investment opportunities. The interactive dialogue helped address specific portfolio needs and reinforced the relevance of private credit in today's high-rate, uncertain on the event, Mr. Kashish Tandon, Executive Vice President, Investment Advisory at Markaz, said: 'We are proud to offer our clients, not just access to international markets, but also insights into new and alternative investment avenues that are shaping the global financial landscape. Events like these reflect our dedication to innovation and diversification, and we look forward to introducing more tailored solutions in the near future.'Sheikh Humoud S. Al Sabah, Senior Vice President, Investment Advisory at Markaz, stated: 'What makes this moment particularly significant is the timing, investors are rethinking their portfolio construction as traditional asset classes experience turbulence. Private credit stands out for its ability to provide attractive risk-adjusted returns with built-in structural protections. Over the past year, we've seen growing client appetite for strategies that combine yield, resilience, and diversification. Engagements with our partners, one of which is BlackRock, align with our focus on delivering intelligent exposure to global private markets, and it demonstrate how our 50-year legacy continues to evolve to meet the needs of today's investors.'Mr. Jean Christophe Rey, Managing Director, Head of EMEA Private Debt at BlackRock, shared his insights during the session, stating: 'We believe structural shifts in capital markets, driven by regulation, investor demand, and innovation, are accelerating the move toward more allocations to private markets. Private credit sits at the heart of this evolution. Its yield, duration, and downside protection make it a natural fit for long-term capital. BlackRock expects the global private debt market to exceed $4.5 trillion by 2030, supported by rising demand for bespoke financing and resilient income.'The discussion highlighted the continued strength and growing relevance of private credit in today's investment landscape. The talk pointed to record-low defaults and improved payment-in-kind (PIK) dynamics as indicators of strong borrower performance and disciplined underwriting. Despite ongoing volatility in public markets, private credit strategies have maintained relatively stable Net Asset Values (NAVs), underscoring the asset class's defensive nature. The ability to generate consistent, attractive yields, supported by strong structural protections and active portfolio management, positions private credit as a key component in modern diversified portfolios, offering resilience, income stability, and potentially downside protection amid economic uncertainty. With a 50-year legacy in asset management and investment banking, Markaz has consistently demonstrated its ability to adapt and innovate in response to evolving market dynamics. Its private credit portfolio, launched in 2024, reinforces Markaz's commitment to creating innovative investment solutions that offer access to international markets, diversification across asset classes, and risk-adjusted returns. By strengthening strategic relationships with global partners, Markaz enables its clients to access a wealth of knowledge and high-quality investment products.
Mint
22-05-2025
- Business
- Mint
Indias IndusInd rebounds on bets bank has come clean on accounting issues
By Kashish Tandon and Siddhi Nayak BENGALURU/MUMBAI (Reuters) -Shares of India's IndusInd Bank rebounded from sharp falls on Thursday on bets that the worst was behind the private lender, a day after it logged a record quarterly loss, hit by past accounting discrepancies. Its shares rose as much as 3.5% to 796.70 rupees to be the top percentage gainers on the benchmark Nifty 50. They declined as much as 6% earlier, making them the worst performers on the index. IndusInd disclosed in March that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts. Separately, an internal audit of its microfinance business found that around $80 million was incorrectly recorded as interest over three quarters. On Wednesday, the lender posted its largest-ever quarterly loss and said it suspects fraud by some employees led to accounting lapses. The bank's financials reflect full and fair representation of all the concerns brought to its attention, its Chairman Sunil Mehta said in a post-earnings conference call on Wednesday. Yes Securities said the latest quarter seemed like IndusInd's "attempt to come clean." Jefferies analysts said that while uncertainty and low profitability will remain concerns for the bank, "historical trends indicate that current valuations are near lows". At least six brokerages downgraded their ratings on the stock after the results and 13 slashed their price targets, on concerns over profitability and uncertainty over management succession. IndusInd's CEO, Sumant Kathpalia, and deputy, Arun Khurana, stepped down last month. "There is no clarity on new management team, how they gain investor confidence, improve profitability and importantly, whether they will execute better than peers," HSBC said. (Reporting by Kashish Tandon in Bengaluru and Siddhi Nayak in Mumbai; Editing by Mrigank Dhaniwala)
