India's Indegene rises as Motilal Oswal upgrades on pharma outsourcing opportunity
BUZZ-India's Indegene rises as Motilal Oswal upgrades on pharma outsourcing opportunity ** Shares of India's Indegene INEG.NS rise 3.5% to 615.40 rupees
** Motilal Oswal upgrades INEG to "buy" from "neutral" with PT of 708 rupees implying about 19% upside from current market price of 595 rupees
** Says global life sciences and pharma cos depend on INEG to reduce operational cost, access talent and manage spike in content volume during drug launches** Adds expansion of pharma global capability centres (GCCs) in India is an opportunity for INEG, as companies outsource global commercial operations that captive centres have struggled to scale
** Says co can make drug launches quicker and efficient for pharma firms by managing content, compliance and commercial operations across countries
** ** Stock rated "strong buy" on avg by five analysts; median PT 650 rupees - data compiled by LSEG
** Stock up 19.21% YTD
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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