MOTILAL OSWAL ON ALKEM LABS : 08.06.2021
• Maintian Buy, Target at Rs 3,730/share
• Alkem well-placed to benefit from a medium term recovery It had a positive impact of higher offtake of COVID-19 associated drugs
* Reduction in COVID-19 cases, coinciding with seasonal change
* Bunched-up ANDA launches over the next 12-15 months
• Tweaked our FY22E/FY23E EPS estimate by 2%/3%
* Continue to value Alkem at 23x 12-months forward earnings
