Sanofi India’s recent tie-up with Emcure Pharmaceuticals to jointly market their portfolio of anti-cancer drugs is positive. Although the stock has gained four per cent since, it will be a couple of quarters before the overhang of recent drug pricing policy subsides. Sanofi’s stock might remain an underperformer in the near-term.
Unlike its Indian peers such as Sun Pharma and Lupin, up 60-65 per cent, Sanofi’s returns have been 19 per cent in the past year. In fact, from mid-July 2014, Sanofi’s stock is down about 5.6 per cent due to the new pricing policy.
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