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Eris Lifesciences Ltd. delivered an operationally better-than-expected Q1 FY23 performance, led by outperforming the industry in cardio-metabolic, central nervous system, dermatology, and women’s health therapies.
In addition to gaining market share in existing brands, it is on track for introductions across major therapies over the next 12-15 months.
We reduce our FY23/FY24 earnings per share estimate by 8%/2%, factoring in:
increased marketing spends on launches, and
higher employee cost towards the addition of medical representatives in its Insulin portfolio.
We remain positive on Eris’ strategy of scaling up newer therapies and introducing superior products in the base therapies.
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