Checkout Budget Highlights 2023ICICI Direct's research report on Sanofi India
Sanofi offers drugs in therapies like diabetes (insulins & orals), cardiology, pain, allergy and epilepsy. Around 70% of sales stem from top seven brands. Lantus, Allegra & Combiflam are in top 100 pharmaceutical brands in India • Sanofi enjoys strong brand recall in anti-diabetic therapy in India.
Outlook
Maintain HOLD as we wait for visible growth triggers in power brands portfolio especially in the anti-diabetic and cardiovascular therapies. Valued at Rs 6270 i.e. 23x P/E on CY24E EPS of Rs 272.7.
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