Buy Cadila Healthcare, target of Rs 372: Sharekhan
Sharekhan has maintained its buy rating on Cadila Healthcare with a price target of Rs 372 in its March 31, 2009 research report. “Zydus Cadila (Zydus) has signed a new collaborative drug discovery and development deal with US-based Eli Lilly to develop drugs focusing on the area of cardiovascular diseases.
As per its earlier deals with Piramal Healthcare, Jubilant Organosys and Suven Life sciences, Eli Lilly has adopted a similar approach and will pay Zydus for finding new drug candidates and taking them to mid-stage trials, at which point Eli Lilly will have the option to step in and licence the most promising therapies.”
“We maintain our positive stance on Zydus, given the strong traction across its business segments. The strong traction in the domestic and the US businesses, and the increasing visibility of the business from the Hospira joint venture reinforce our view on Zydus’ continued growth prospects. We reiterate our Buy recommendation on Zydus with a price target of Rs 372,” says Sharekhan’s research report.
Tags: buy, buy rating, Cadila Healthcare, sharekhan
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