UBS has maintained a buy rating on the stock while lowering the target price to Rs 1,960 from Rs 2,060.
The Q2 results met expectations, but growth in India was weak. The shortage of lanreotide is anticipated to affect near-term performance. Timelines for the gAdvair launch remain unchanged, but the launch of Abraxane depends on clearance from Goa. As a result, UBS has reduced its FY26 and FY27 EPS estimates by 4% and 7%, respectively.
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