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Lower base and a revival in domestic formulations is likely to drive overall sales.
On the other hand, despite a favourable base in some select stocks, U.S. formulations growth is expected to remain subdued amid lack of meaningful launches, price erosion and currency headwinds.
The ICICI Direct healthcare universe (12 coverage companies) is expected to post decent year-on-year growth of 11.4% to around Rs 44,497 crore led by strong growth in domestic formulations being partly offset by slow growth in the U.S.
Domestic growth is expected to be led by lower base, recovery in acute segment growth and Covid-related product sales.
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