{"id":135427,"date":"2022-11-03T04:20:35","date_gmt":"2022-11-03T08:20:35","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135427"},"modified":"2022-11-03T04:20:38","modified_gmt":"2022-11-03T08:20:38","slug":"sun-pharmaceutical-industries-limited-q2-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/sun-pharmaceutical-industries-limited-q2-fy23-earnings-conference-call-insights\/","title":{"rendered":"Sun Pharmaceutical Industries Limited Q2 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Sun Pharmaceutical Industries Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/SUNPHARMA\/\">SUNPHARMA<\/a>) Q2 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:16:46] Tushar Manudhane of Motilal Oswal asked about the sustainability of US generics business and its sales tracking well despite ANDA approval and filing reducing. Abhay Gandhi CEO replied that the pace of approval is not going down. SUNPHARMA added that it\u2019s a strategic decision to focus on what products it wishes to launch than focusing on number of products.<\/li>\n<\/ul>\n<ul>\n<li>[00:17:58] Tushar Manudhane of Motilal Oswal also enquired about Revlimid, if any query is pending from the company\u2019s end. Abhay Gandhi CEO answered that the company is on track to meet its obligation and launch.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:19] Tushar Manudhane of Motilal Oswal asked about the India business having aggressive launches, if the company has a shift in focus from top brands to more broad based approach. Dilip Shanghvi MD clarified that launching new products is one of company\u2019s levers. The focus is on increasing the contribution of new products in overall India business.<\/li>\n<\/ul>\n<ul>\n<li>[00:19:16] \u00a0Prakash Agarwal with Axis Capital enquired about ILUMYA for Psoriatic Arthritis, given the R&amp;D run rate being slower than expected, if the company is on track for primary end points. Dilip S. Shanghvi MD said that there\u2019s some challenges in recruitment in some geographies. And the company is in the process of working out the new schedule and timeline.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:33] Prakash Agarwal from Axis Capital asked how the company sees margins playing out once R&amp;D starts coming up. Dilip S. Shanghvi MD replied that generally the company doesn\u2019t guide for EBITDA and margins. However broadly, SUNPHARMA\u2019s focus would be to find a way to improve the overall profitability.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:24] Prakash Agarwal with Axis Capital asked if 3Q and 4Q are seasonally stronger for the specialty business. Abhay Gandhi CEO answered that it depends on the product. For derm indications, it\u2019s seasonally stronger in Q3, Q4. However, in non-derm portfolio the seasonality doesn\u2019t apply.<\/li>\n<\/ul>\n<ul>\n<li>[00:25:51] Neha Manpuria of Bank of America asked about the drivers of GM expanding QonQ. Dilip S. Shanghvi MD answered that it is driven by higher specialty revenues and also products to some extent.<\/li>\n<\/ul>\n<ul>\n<li>[00:26:52] Sameer Baisiwala from Morgan Stanley asked about the duration given the FDA gave OAI status in August. Abhay Gandhi CEO answered that if one gets an OAI, depending on the FDAs expectation, SUNPHARMA will continue to address all the observations and remediation efforts. However, the company added that FDA will mostly revisit the facility before it becomes a VAI.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:04] Sriram from BNP Paribas enquired about R&amp;D activities and if in absolute amount it can grow by about 50% YonY. Dilip Shanghvi MD answered that even though in absolute terms it\u2019s going up, in percentage terms it&#8217;s not as per the guidance. SUNPHARMA expect the R&amp;D spend in the next two quarters to go up.<\/li>\n<\/ul>\n<ul>\n<li>[00:36:37] Krish Mehta with Enam Holdings asked if the US generics business is bottoming out. Abhay Gandhi CEO replied that overall the generics markets the company is hoping to see the bottom for some years, but the hope is fading out.<\/li>\n<\/ul>\n<ul>\n<li>[00:39:38] \u00a0Damayanti Kerai of HSBC asked about Odomzo, Levulan and Cequa, if these products are back to pre-COVID levels. Dilip S. Shanghvi MD clarified that all three products have grown YonY, irrespective of any period.<\/li>\n<\/ul>\n<ul>\n<li>[00:48:29] Kunal Randeria from Nuvama enquired that from an R&amp;D perspective, given the company is spending around 20-25% R&amp;D on specialty, if the contribution in R&amp;D is expected to increase meaningfully. Dilip Shanghvi MD replied that specialty will continue to be an important component of future investments.<\/li>\n<\/ul>\n<ul>\n<li>[00:50:12] Sayantan Maji of Credit Suisse asked about WINLEVI, what was the temporary blip in prescriptions in 2Q23. Abhay Gandhi CEO said it\u2019s a continuous process. It\u2019s only a temporary blip and from next quarter onwards, SUNPHARMA will see an increase.<\/li>\n<\/ul>\n<ul>\n<li>[00:50:26] Sayantan Maji of Credit Suisse also asked about the proportion of sales the company is getting from repeat customers in WINLEVI. Abhay Gandhi CEO replied that the company has typically around one-third of its customers who are repeat customers.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Sun Pharmaceutical Industries Limited (SUNPHARMA) Q2 FY23 Earnings Concall Q&amp;A Highlights: [00:16:46] Tushar Manudhane of Motilal Oswal asked about the sustainability of US generics business and its sales tracking well despite ANDA approval and filing reducing. Abhay Gandhi CEO replied that the pace of approval is not going down. SUNPHARMA added that [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Sun Pharmaceutical Industries Limited Q2 FY23 Earnings Conference Call Insights #SUNPHARMA #Q2 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5747],"tags":[8975,10169,1115],"class_list":["post-135427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-healthcare-stocks","tag-diagnostics-research","tag-earnings","tag-pharmaceuticals"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":131835,"url":"https:\/\/alphastreet.com\/india\/sun-pharmaceutical-industries-ltd-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":135427,"position":0},"title":"Sun Pharmaceutical Industries Ltd Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"August 1, 2022","format":false,"excerpt":"Key highlights from Sun Pharmaceutical Industries Ltd (SUNPHARMA) Q1 FY23 Earnings Concall Management Update: SUNPHARMA recorded the highest ever quarterly revenue in 1Q23, with sales increasing 14% YonY, excluding the contribution of 1Q22. SUNPHARMA\u2019s current generic pipeline for the US includes 89 ANDAs and 13 NDAs awaiting approval with the\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":128735,"url":"https:\/\/alphastreet.com\/india\/laurus-labs-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":135427,"position":1},"title":"Laurus Labs Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"May 2, 2022","format":false,"excerpt":"https:\/\/youtu.be\/83rl6ffkU9c Key highlights from Laurus Labs Limited (LAURUSLABS) Q4 FY22 Earnings Concall Management Update: LAURUSLABS said that based on its healthy product pipeline, it continues to invest in FDF infrastructure. 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S. Muralidharan\u00a0--\u00a0Group Chief Financial Officer Kirti Ganorkar\u00a0--\u00a0Chief Executive Officer-India Business Abhay Gandhi\u00a0--\u00a0Chief Executive Officer-North America Business Analysts: Naushad Chaudhary\u00a0--\u00a0Aditya Birla Sun Life\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":137141,"url":"https:\/\/alphastreet.com\/india\/sun-pharmaceutical-industries-limited-sunpharma-q2-fy23-earnings-concall-transcript\/","url_meta":{"origin":135427,"position":3},"title":"Sun Pharmaceutical Industries Limited (SUNPHARMA) Q2 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"November 1, 2022","format":false,"excerpt":"Sun Pharmaceutical Industries Limited (NSE:SUNPHARMA) Q2 FY23 Earnings Concall dated Nov. 01, 2022\u00a0 Corporate Participants: Nimish Desai -- Investor Relations Dilip S. Shanghvi -- Managing Director C. S. 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