Reliance Money has maintained its buy rating on Dishman Pharmaceuticals & Chemicals with a target price of Rs 185 in its April 6, 2009 research report.
“Dishman Pharmaceuticals & Chemicals Ltd (Dishman), is setting up a Rs 350 million US FDA and MHRA approvable drug formulation unit at the Bavla plant in Gujarat. On the similar lines, the company has assigned one of its other plants to meet the requirements of AstraZeneca’s 14 API supply agreement. Another, two plants have been visited by large MNC pharma companies like GSK, Pfizer, Novartis and have expressed their interest in entering into manufacturing contracts going forward.”
“With the increasing number of contracts and various capacity additions, augers well for Dishman to derive stronger revenue growth going ahead. Hence, looking at the robust future outlook for CRAMS operations, we retain our top pick rating on Dishman Pharma in CRAMS space and accordingly maintain our BUY recommendation on Dishman Pharma with target price of Rs 185,” says Reliance Money’s research report.
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