July 4, 2012
Lupin receives USFDA approval for Generic Ortho Tri-cyclen LoTablets
Lupin’s subsidiary, Lupin Pharmaceuticals Inc. has received approval for itsNorgestimate and Ethinyl Estradiol Tablets, 0.18 mg/0.025 mg, 0.215 mg/0.025mg, and 0.25 mg/0.025 mg from the U.S. FDA (FDA). Lupin’s Norgestimate andEthinyl Estradiol Tablets are the AB-rated generic equivalent of
® Tablets, 0.18 mg/0.025 mg, 0.215 mg/0.025 mg and 0.25 mg/0.025 mg,of Janssen Pharmaceuticals, Inc. Norgestimate and Ethinyl Estradiol Tablets areindicated for the prevention of pregnancy in women who elect to use oralcontraceptives as a method of contraception.
Ortho Tri-cyclen Lo
® Tablets hadannual U.S. sales of ~US$421mn for the 12 months ending March 2012(IMS Health sales data).
We maintain our Buy recommendation on the stock with atarget price of
Ashok Leyland reports above-expectations volumes in June 2012
Ashok Leyland (AL) registered strong growth of 27.9% yoy (18.5% mom) in June2012, ahead of our expectations, primarily driven by incremental volumes fromthe recently launched small commercial vehicle
(2,725 units, up 18.2%mom). While commercial vehicle sales (ex.
) declined by 6.1% yoy, they surged by 18.5% sequentially led by gradual pick-up in demand in the southernregion. AL has witnessed strong growth traction in 1QFY2013, where volumeshave grown by 38.5% yoy, mainly led by the success of
. We expect salesmomentum in
to continue going ahead and expect it to post total sales of30,000 units (7,383 units in FY2012) in FY2013, enabling AL to register 29.2%yoy growth for the fiscal. At
25, the company is trading at attractive valuations of8.3x FY2014E earnings.
We maintain our Buy rating on the stock with a targetprice of
Economic and Political News
Diesel prices should also go on a float, says Basu
Inflation expected to soften from mid-October: Basu
Deficient rains not worrisome for paddy: Minister for Agriculture
PMO asks Coal Ministry to help CBI in mines allocation probe
TDSAT gives notice to DoT on Aircel's plea for more spectrum
Home ministry okays paramilitary forces for SAIL mine
LIC hikes stake in Cairn India to over 5%
SAIL, Kobe to seal pact for
1,500cr plant next week
Bharti Airtel launches cloud computing services
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint