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Buy Eris Lifesciences; target of Rs 954: Prabhudas Lilladher

Buy Eris Lifesciences; target of Rs 954: Prabhudas Lilladher
December 06
14:24 2021

Prabhudas Lilladher is bullish on Eris Lifesciences has recommended buy rating on the stock with a target price of Rs 954 in its research report dated December 06, 2021.

Broker Research

December 06, 2021 / 01:54 PM IST

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Prabhudas Lilladher’s research report on Eris Lifesciences

Eris Lifesciences (ERIS) announced its entry into India’s Insulin and GLP1 agonists market through JV with MJ Biopharm. The 70:30 Joint Venture (with ERIS holding a 70% stake) will primarily engage in marketing and distribution of Human and Analogue Insulin and GLP-1 agonists, along with potentially other biopharma products in India. MJ Biopharm will be responsible for development, manufacturing and supply of these products to the JV.

Outlook

ERIS’s timely strategy of capacity expansion and higher contribution from chronic/sub-chronic products supported by insignificant regulatory risk, allows it to stand ahead in the industry. We have not factored any revenues and expenses from this JV. Maintain our ‘BUY’ rating with TP of Rs954 at 24x Sept 2023E EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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