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Granules India Buyback Offers Hope Amid Coronavirus Turmoil

Q4 Will Be Impacted By Coronavirus-Related Export Restrictions

Executive Summary

Granules India’s buyback offer seems to be timed right. As the novel coronavirus crisis batters the Indian stock market, a 32% premium offered by the company is an attractive proposition for investors. However, its Q4 performance will see a blip on account of paracetamol export restrictions.

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In a bid to ensure long-term medicines security, the Indian government has earmarked $1.32bn to promote domestic production of 53 APIs, including lopinavir and ritonavir currently being evaluated to treat COVID-19 cases, as well as antibiotics, for which India is highly dependent on China.

India’s Paracetamol Exports Hit By Coronavirus Fallout

India permits medicines placed on a restricted list to be exported from SEZs and under advance licenses, but paracetamol exporters hope for more easing as restrictions begin to hurt. Meanwhile, the government asks industry to ensure four months of stock as it balances medicines security with economic interest.

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