Pharmaceutical major Ranbaxy Laboratories in planning to launch Absorica in US market by the end of year. Ranbaxy has shown stellar performance in the past quarterly result and the stock price has seen significant jump in valuations.
Cipher Pharma, the company having patented brand formulation of the acne medication isotretinoin, will receive $9 million from Ranbaxy Laboratories as per media reports.
The stock price on NSE was down by 0.6% at Rs 526. The company has touched 52-week high and low of Rs 570 and 365 respectively.
Stock market analyst Sudarshan Sukhani has given a buy call for Ranbaxy with a long term positive outlook. Dilip Bhat of Prabhudas Lilladher considers Ranbaxy among major stocks on his buy list.
In recently issued research report, Emkay Global Financial Services has given a buy call for Ranbaxy with a target price of Rs 559.
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