India's Dr Reddy's rises as Nomura flags near-term biologics milestones
BUZZ-India's Dr Reddy's rises as Nomura flags near-term biologics milestones ** Shares of India's Dr Reddy's Laboratories REDY.NS rise as much as 1.57% to 1,219.90 rupees
** Nomura ("buy", PT: 1,740 rupees) says co awaits two key biologics milestones- US FDA clearance for its biologics plant and potential approval of biosimilar Abatacept, a rheumatoid arthritis treatment
** Says Abatacept is co's most significant near-term biosimilar opportunity by financial impact; co plans to launch the drug in more than 50 countries in the first wave if approved
** Nomura estimates Abatacept could generate $309 million in sales and $260 million in EBITDA in FY28
** Separately, co maintains guidance to relaunch semaglutide in November and expects to sell 6 mln-7 mln pens in FY27, with most volumes likely from Canada
** REDY rated "hold" on average by 36 analysts, median PT at 1,221 rupees-LSEG compiled data
** YTD stock down 4.4%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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