Strong growth outlook for Aurobindo Pharma after Q4 slip

Aurobindo Pharma's lower than expected March quarter performance weighed on the sentiment as the stock corrected almost 7.5 per cent intra-day before closing 4.23 per cent down at ~579.5. Pricing pressure in the US, led by increasing competition and channel consolidation, product recalls, and plant remediation costs affected its performance.

The US formulations business (43 per cent of revenues) grew only 5.8 per cent year-on-year (y-o-y), compared to 9.4 per cent in the third quarter. The company's Unit IV had received nine observations in February from the US drug regulator …

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