February 21, 2017 / 03:14 PM IST
Cadila Healthcare (CDH) announced today that its Moraiya facility was re-inspection by the USFDA from 6-15 February 2017. At the end of the inspection, no 483 observations were issued. Notably, this plant is under warning letter status since December 2015.
Outlook
We maintain our Buy rating with a target price of INR 510 @22x FY19E PER (v/s INR 425 @22x 1HFY19E). We increase FY18E/19E EPS by 5%, factoring in faster product approvals and better margins.
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