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Alkem Laboratories Ltd. delivered better-than-expected Q4 FY21 performance, led by superior execution in the domestic formulations (DF) segment.
While the U.S. business faced headwinds in Q4 FY21, it expects healthy launches to deliver better YoY growth in FY22.
We remain positive on the company on the back of:
1. healthy outperformance in DF, supplemented by strong brand recall, new introductions including biosimilars, and partly aided by Covid-19 associated demand, and
2. revival in U.S. sales growth, led by improved pace of launches and reduced impact of price erosion in its base business.
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