Sun Pharma saw its domestic market share expand to 8.6% during the September 2026 quarter, backed by consistent focus on its high-margin innovative medicines portfolio. Momentum for key drugs like Ilumya is slated to rebound following an expanded US approval for psoriatic arthritis. Additionally, the planned integration of Organon by the fourth quarter of FY27 will enhance specialty and biosimilar capabilities globally. Brokerage firm Choice Equity Broking retained a BUY recommendation despite trimming FY27–28 earnings estimates by 1% to 3.6% over US weakness.
Key points
A recent US approval for Ilumya in treating psoriatic arthritis is expected to revive the…: A recent US approval for Ilumya in treating psoriatic arthritis is expected to revive the drug's slowing growth momentum.
The acquisition of Organon will broaden the drugmaker's global footprint and strengthen i…: The acquisition of Organon will broaden the drugmaker's global footprint and strengthen its specialty and biosimilar segments.
Choice Equity Broking maintains a BUY rating with a target price of ₹2,300, despite adjus…: Choice Equity Broking maintains a BUY rating with a target price of ₹2,300, despite adjusting earnings estimates down due to US business weakness.
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The company's domestic market share rose to 8.6% in the September 2026 quarter from 8.3% a year earlier. A key focus area remains the innovative medicines portfolio, which contributes more than one-fifth to the company's overall sales. While growth in Ilumya moderated during the quarter, Sun attributed this partly to execution-related factors and expects momentum to improve following the recent approval of the drug for psoriatic arthritis in the US.
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Another significant growth driver is the proposed Organon acquisition, which is expected to be completed by the fourth quarter of FY27, subject to approvals. The transaction is likely to expand Sun's global footprint and strengthen its specialty and biosimilar capabilities.
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Choice Equity Broking has retained a 'BUY' rating on the stock with a target price of ₹2,300, a 29.3% upside to Friday's closing price of ₹1,778.3, citing the company's specialty portfolio, innovation pipeline and proposed Organon…
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