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Granules deepens US focus with differentiated products. But sustaining success may not be easy.

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Synopsis

Granules has not only had a stellar stock performance but also delivered robust earnings growth. While focusing on its core business, which has high-volume and low-value products, the company has been expanding the product basket to include higher-margin products for the US. However, navigating the challenging business environment for generic drugs in the US could be difficult.

The pandemic has put the pharmaceutical sector under the spotlight, with a special focus on companies manufacturing active pharmaceutical ingredients (APIs), or raw materials to make finished products. While the pharma stocks have surged in the past six months with the Nifty Pharma Index rising over 80% from its low in March, API-focused companies such as Aarti Drugs, Laurus Labs, and Granules India have significantly outperformed the index.

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