Stockrabit · Analysts
Questions across 16 calls

Shyam Srinivasan

Firm not listed in source transcripts

Lupin Limited

Lupin Limited CC-May26.pdf · 2026-05-08
Just the first one on Semaglutide in India. So how has the launch gone? I think you Semaglutide mentioned the top two or three. So just what were expectations? Maybe some of the dynamics. Given a lot of investor interest. If you could just tell us how things have panned out now it probably, it doesn’t yet have April data for example. So just if you could tell us what's been the experience, prescription behaviour, the vials versus the even the pen debate. If you could double click there, please?
I remember in our earlier comments we talked about a INR 1,500 crore overall market 50% with innovator data. Has the volume uptake surprised you guys? Do you think there's a revision upwards in terms of Semaglutide generic play or still very early days?
Lupin Limited CC-Nov25.pdf · 2025-11-07
Just one on the VISUfarma acquisition. If you could walk us through the strategic rationale. I think the presentation also talked about being accretive to margins. I can see some of the margins, but just the thought process on that acquisition and what does it essentially add to our portfolio?
Also, just double -clicking on your opening remarks, global specialty sales expected to reach EUR 150 million, so I'm assuming EUR 50 million actually comes from here, but what is the rest of the things, and I'm assuming some of it is in the U.S. as well, so if you could walk us through that as well?
Lupin Limited CC-Dec24.pdf · 2025-02-12
On the European market, the kind of growth that we have seen about 20%. If you could kind of articulate what's driven that growth. I think you called out two products, but just want to understand the sustainability of the growth in the European market for the path ahead.
And just a second question, going back to the question on tariffs. If you see, there's increasing risk that 10% import tariffs come on critical imports in the US and the critical imports do include pharmaceuticals at this point of time. So I'm just going to ask a hypothetical question. In case it gets announced as early as next Feb 18 th Feb seems to be the date, what are the mitigation efforts in terms of do we have pricing power to increase that onto our customers our you think we are going to have to absorb it at the start and then negotiate? Because moving manufacturing and other stuff while we have capacity probably takes time. So I just want to understand the push and pulls around - I know it's a h ypothetical question but seems - given what is happening on trade, a more likely one than not. So just want to see from a management preparedness in case such tariffs occur, what is the thought process?
Lupin Limited CC-Mar24.pdf · 2024-05-07
Good evening, and thank you for taking my question. Just the first one on the U.S. business, right? So we have done an annual revenue of $815 million. And just want to see how we should look at it in a medium to longer term, can we go back to $1 billion at some point of time? What are some of the drivers of that particular thing? I think that's the first question I have.
Understood. It's still close to what about 10%, 12% kind of growth, right? Won't we see a more faster growth? I'm just wondering why not?
Lupin Limited CC-Dec23.pdf · 2024-02-08
Hi. Good evening, and thank you for taking my question. Just the first one is on the trajectory of the US, right? So I know there's some channel filling last quarter, but we have seen market share gains in Spiriva, for example. So I just want to understand, is it because of channel filling that the Q-o-Q momentum seems to be slow, and as we progress this should kind of start inching up. How should I look at that dynamic?
Yeah. And again, sorry about this, but the opening remarks again, when you gave the guidance for the new base. If you could again repeat that. I'm sorry, but parts of your conversation just went away. Sorry.

Biocon Limited

Biocon Limited CC-Feb26.pdf · 2026-02-13
This is Shyam Srinivasan from Goldman Sachs Research. Just first question is just on the trajectory of the biologics business. Maybe I'm not looking at like quarterly variations. But yes, there's been a slight slowdown in growth. I think Shreeyas, you alluded to higher growth going forward. So, what are some of the drivers that gives us confidence. I know I'm not asking for a quantitative number, but just what drives revenue up. So, 9 months is also 17%. And I'm assuming very difficult to see what the underlying constant currency growth is, right? There has been a rupee depreciation impact also. So, I just want to see when are we moving to a slightly faster trajectory of revenue growth in the biologics business?
Helpful, Shreehas. Just a second question on the generics business. I think a very solid performance this quarter. If you could kind of break it down into just the new what is traction on the new launches, including the GLP -1s? And how should we look at, say, again, outlook for this business?

Sun Pharmaceutical Industries Limited

Aurobindo Pharma Limited

Aurobindo Pharma Limited CC-Feb26.pdf ·
Yeah, hi, good morning. Thank you for taking my question. Satakarni sir, just again on the biosimilar journey, now in the next 12 months, what are some of the milestones and timing that we need to keep in mind? And any way to kind of assess how large this could be for us over time, maybe fiscal ‘27 and over time?
Yeah, thank you, Dr. Satakarni. Just one sub -question before I go to the second one. This budget announcement of this BioShakti, Dr. Satakarni, anything… ? I know it’s early and maybe the details are not yet out for biomanufacturing in the country. You know, anything that you have, any insights from industry discussions? Or if you were to say or recommend to the government, what would be some of those things?
Aurobindo Pharma Limited CC-Mar25.pdf ·
Good morning. Thank you for taking my question. Just the first one on the on the Pen -G plant. I just want to understand a little bit about the fire accident and the subsequent 20-25 day… I think you also put a press release yesterday saying you are waiting some approval from the Andhra board. So, just can you give some clarity around what went wrong and what are the mitigation efforts and when does this restart? That's question one. Also want to know in terms of production, how are we thinking , again Pen -G? What is the monthly or the annual trajectory we would likely go back to? And Subbu sir, you also mentioned about prices for Pen-G, if they are favourable, we'll do certain level of EBITDA. Just want to understand how is it trending right now? We've heard some Chinese players actually cut 6-APA prices, for example. So, just want to understand the dynamics around Pen -G and what's our outlook for the next 12 months?
Thank you, Subbu sir. Helpful. This minimum input price, you mentioned this few times. Sorry, I have not understood what the proposal is. Is it to help domestic industry? Sorry, can you explain what could be the contours of it?
Aurobindo Pharma Limited CC-Jun25.pdf ·
Yeah, good morning. Thank you for taking my question. Just the first one on the biosimilar launches in Europe, Dr. Satakarni, if you could just highlight what are the things that we need to keep in mind? I think the presentation talks about Q3, Q4. So the kind of infrastructure, the kind of preparation, maybe initial market shares that we are targeting. So if you could help us outlay the commercial strategy.
Yeah. Thank you, Dr. Satakarni. Just if you could give us, like your credit for the first European launch at your earlier shop. So you know, in the last whatever, you know, five, six, maybe even a decade of doing this, what are some of the big differences you see? Is profitability in Europe for biosimilars distinctly different now and lower perhaps? So, if you could comment on profitability as well.
Aurobindo Pharma Limited CC-Nov25.pdf ·
Yeah, hi. Good morning. Thank you for taking my question. Dr. Satakarni, just sticking to biosimilar commercialization and even the pipeline updates, if you could share, please. Thank you.
Yeah. Thank you, Sir. Just one sub question is on the new biosimilar guidelines in the FDA and from a competitive intensity standpoint do you now see a lot more of your peers who have probably skirted this opportunity, I'm talking Indian peers, to start looking at it seriously and are you worried about it at all?
Aurobindo Pharma Limited CC-Jun24.pdf ·
Yeah, good morning. Thank you for taking my question. Just the first one, again on the European business, you talked about EUR 850 million for the full year kind of run rate. So just want to understand how is the underlying profitability of this business now tracking, have we moved past that double digit into mid-teens in terms of the margin profile?
Murali Sir, just in terms of the integration where we have tried to move to some of our local plants . How far are we on the journey and how much more can be done incrementally for integration for the European business?
Aurobindo Pharma Limited CC-Sep24.pdf ·
Good morning. Thank you for taking my question. Just two quick ones. First is on the R&D cost, Rs. 410 crores, it is kind of jumped up like 80 to 100 basis points. So, I just want to understand what is driving the higher R&D ? And if you could also split us out, maybe based on the different segments on where is this incremental spend going to? That's question one. And just question two is, Subbu sir, just the ETR for the quarter was kind of high. So, is there something that's happening there that we need to be aware of? If you could give us a full year ETR guidance. Thank you.
Thank you, Dr. Satakarni. Subbu sir, on the ETR.
Aurobindo Pharma Limited CC-Dec24.pdf ·
Good morning. Thank you for taking my question. So just one on the macro and new administration in the U.S., so just want to understand there's a potential tariff on pharmaceuticals. So, as a company, as an industry, what are some of the pushbacks that we give like a lobby back to the U .S. government, which probably may think of tariffs? Is it our footprint in the U.S. in terms of manufacturing when we talk about new capacity additions in the U .S., is there more onshoring as a team that you will probably suggest to them and what could be som e of the mitigation efforts on this one? So , I know it’s a hypothetical question at this point of time but want to understand what are some of the broad contours that the management is thinking about?
And Subbu Sir, just if I may squeeze in , in terms of ROCEs, are these investments, or is there a way to make sure these ROCEs are higher than where our corporate averages are because that's the prime reason why we moved manufacturing out in the first place, so is there any other way to recoup margins or returns?
Aurobindo Pharma Limited CC-Dec23.pdf ·
Good morning and thank you for taking my question . J ust on the disclosures of the US business, right? I think last quarter, specialty and injectable were around 90-91 million and now it is showing 112. Is a majority of this coming from the gRevlimid launch in the quarter?
Got it. And the 20 million Yugandhar that you are calling out, so we should assume that on the injectable part of the business, that's where the 20 million goes away in Quarter four. Correct, right?