HSBC retains a positive view on Indian pharmaceutical companies, projecting strong performance in 2025 led by peak gRevlimid sales and differentiated launches in the US. Companies under HSBC’s coverage, such as Cipla, Sun Pharma, and Torrent, are expected to focus on new launches, including GLP-1 drugs, to mitigate the impact of declining gRevlimid sales.
The brokerage emphasizes solid underlying growth drivers for these companies, including a robust pipeline and expanding global opportunities. HSBC maintains Buy ratings on Cipla, Sun Pharma, and Torrent, highlighting their ability to navigate industry headwinds and sustain growth momentum in the medium term.
