DRL launches Renvela generic in US, price target at Rs 2200: HDFC Securities

The pharma major Dr Reddys Laboratories (DRL) has launched kidney disease drug Renvela generic in the US market. How big an opportunity can this be for DRL and what does it do to Aurobindo Pharma?

In an interview to CNBC-TV18, Amey Chalke of HDFC Securities shared his views and readings on the same.

Chalke said many companies are looking to enter Renvela generic market, so it would be difficult to ascertain that DRL and Aurobindo would be the two players for the remaining year.

Our price target is around Rs 2,200 on DRL because there are many regulatory issues, which need to be sorted out first, said Chalke.

HDFC Securities positive on Aurobindo because there are many other launches in the pipeline, he added.