July 3, 2012 / 6:23 AM / 8 years ago

MARKET EYE-Jefferies starts Sun Pharma, Ranbaxy, Cipla with Buy

* Jefferies started coverage of Indian pharmaceutical sector
with "buy" ratings on Sun Pharmaceutical Industries,
Ranbaxy Laboratories and Cipla, citing its
preference for companies with high exposure to chronic/complex
therapies and strong emerging market presence.
* "Emerging markets account for 50-70 percent of revenues for
Cipla, Ranbaxy and Sun, providing strong growth drivers,"
Jefferies said in a report.
* The brokerage also initiated coverage on Lupin and
Dr Reddy's Laboratories with "hold" ratings.
* Jefferies said the Indian pharma sector reflects a strong 21
percent compounded annual growth in earnings per share over the
next two years.

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