ALKEM

** Pharma products manufacturer Alkem Laboratories ALKE.NS falls 3.85% to 5090.5 rupees after Q4 results

** Co's Q4 revenue profit rises 4% y/y but at least 4 brokerages say it is below expectations

** Jefferies says Alkem's sales growth in India and the U.S. was below expectations

** Adds, co's quest to improve sales will come at the cost of margins as R&D spend rises

** Ambit Capital says price erosion in U.S. markets continues, given limited new launches

** Motilal Oswal flags lack of growth catalysts over FY25-27, given the time it will take for sales growth initiatives to materialize

** ICICI Securities expects nominal margin expansion over FY25-27

(Reporting by Ananta Agarwal in Bengaluru)

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BENGALURU, May 29 (Reuters) - Diary of India economic, corporate events on May 29

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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April 23 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABORATORIES LTD - ACQUIRES 100% STAKE IN ADROIT BIOMED

Source text: ID:nBSE2FvKDC

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Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABORATORIES LTD - RECEIVES GST DEMAND ORDER FOR 13.7 MILLION RUPEES

Source text: ID:nBSE2Pb2ks

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** Shares of Alkem Labs ALKE.NS down 6.4% to 5,151 rupees

** Stock top percentage loser on the Nifty Pharma index .NIPHARM, which is down 1.8%

** The pharma co posted a 5.2% YoY increase in quarterly net profit and a 1.5% rise in revenue on Friday, but both fell short of analysts' estimates

** Brokerage J.P. Morgan cuts its FY25/26/27 earnings estimates by 4%/3%/8% due to softer revenue trends

** Co maintained FY25 EBITDA margin target at 19%, indicating a weak Q4 ahead - J.P. Morgan

** Brokerage adds, concerns remain due to weak India growth and lackluster U.S. portfolio

** Stock rose 8.3% in 2024 vs a 39% gain in .NIPHARM

(Reporting by Yagnoseni Das in Bengaluru)

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Feb 7 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM MEDTECH TO ACQUIRE 100% STAKE IN BOMBAY ORTHO INDUSTRIES

Source text: ID:nBSEhXggz

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Feb 4 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABS - LAUNCHES KOJIGLO SERUM IN INDIA TO MANAGE FACIAL HYPERPIGMENTATION

Source text: ID:nBSE6t76MZ

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Jan 7 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABORATORIES - TO SELL MANUFACTURING FACILITY IN PITHAMPUR

• ALKEM LABORATORIES - DEAL FOR 1.49 BILLION RUPEES

Source text: ID:nBSE9l3Nx7

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Dec 25 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• IT AUTHORITY DISALLOWS TAX DEDUCTION

• DISPUTED AMOUNT IS 3.75 BILLION RUPEES

• NO MATERIAL IMPACT ON COMPANY AS NO AMOUNT IS PAYABLE

Source text: ID:nBSE8Pxk02

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** Shares of Alkem Labs ALKE.NS rise 2.4% to 5,526 rupees

** Stock among top gainers on the Nifty Pharma index .NIPHARM, which is up 1.44%

** The pharma co said on Tuesday it entered into an agreement for equity investment in Sunsure Solarpark by investing 19.5 mln rupees ($229,633)

** Sunsure Solarpark engaged in business of generation, production and distribution of electricity from renewable energy sources

** Eighteen analysts covering the stock on avg have a "hold" rating; median PT is 6,053 rupees - LSEG data

** Stock up 6% YTD vs a 33% gain in .NIPHARM

($1 = 84.9180 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Dec 17 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABS - ENTERED AGREEMENT FOR EQUITY INVESTMENT IN SUNSURE SOLARPARK

• ALKEM LABS - INVESTMENT OF 19.5 MILLION RUPEES

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Dec 10 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• APPROVES TRANSFER OF TRADE GENERICS BUSINESS TO ALKEM WELLNESS

• CONSIDERATION EXPECTED TO BE UP TO 7.50 BILLION RUPEES

Source text: ID:nBSE1ZqG4j

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Nov 13 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• SEPT-QUARTER CONSOL NET PROFIT 6.89 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 34.15 BILLION RUPEES

Source text: ID:nBSE1s1WRP

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Adds chart, no changes to text

By Bharath Rajeswaran

Nov 7 (Reuters) - MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weightage on the index to 20%, further narrowing the gap with China.

MSCI said there would be 156 Indian stocks in the index, but that is only one-fourth of China's 598, signalling scope for further inclusion of Indian stocks on the index.

The changes will take place after the markets close on Nov. 25, MSCI said.

The inclusion of the stocks will lift India's weightage in the index to a record 19.8% from 19.3% earlier, narrowing the gap with China, which has slipped to 26.8% from 27%, Nuvama Alternative and Quantitative Research estimated.

It will also likely attract $2.5 billion in passive inflows into India's equity markets, Nuvama said.

China has the highest weightage in the MSCI Global Standard index, while India has been in second place since the end of 2021.

Air conditioner maker Voltas VOLT.NS, realty developer Oberoi Realty OEBO.NS, stock exchange operator BSE BSEL.NS, Kalyan Jewellers KALN.NS, and drug maker Alkem Laboratories ALKE.NS are the latest additions to the index.

Indian markets saw inflows of about $3 billion into equities after the previous MSCI rebalancing in August when seven stocks were added.

"We remain extremely bullish on India, especially with active participation from mutual funds and high net worth individuals (HNIs)/retail investors, and anticipate many more inclusions in the emerging markets index," said Abhilash Pagaria, head of Nuvama research.

Seven existing stocks, including top private lender HDFC Bank HDBK.NS and Tata Power TTPW.NS, saw an increase in their weightage.

HDFC Bank is now the highest-weighted Indian stock in the MSCI indices at 7.08%, surpassing Reliance Industries' RELI.NS 6.08%.

No Indian companies have been removed from the MSCI Global Standard Index so far in November.

Additionally, around 13 firms, including Eureka Forbes EURK.NS, Indegene INEG.NS, and PC Jeweller PCJE.NS, were added to the MSCI Small Cap Index, bringing the total number of small-cap stocks to 525.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Abinaya Vijayaraghavan)

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Oct 10 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• SIGNED A LICENSING AGREEMENT WITH SONNET BIOTHERAPEUTICS HOLDINGS

• SIGNS LICENSING AGREEMENT WITH SONNET BIOTHERAPEUTICS HOLDINGS, INC

• TO DEVELOP, COMMERCIALIZE 'SON-080' FOR TREATMENT OF DIABETIC PERIPHERAL NEUROPATHY

• ALKEM HAS EXCLUSIVE RIGHTS TO DEVELOP, MANUFACTURE AND COMMERCIALISE DRUG IN INDIA

• CO TO CARRY OUT CLINICAL DEVELOPMENT OF "SON-080" IN INDIA TO ENABLE REGULATORY FILINGS

Source text for Eikon: ID:nBSE9MwnfJ

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Sept 27 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABS - DENIES CLAIMS OF PAN-D, CLAVAM 625 BATCHES BEING NOT-OF-STANDARD QUALITY

• ALKEM LABS - ALL PRODUCTS MANUFACTURED AT OUR SITES FOLLOW CURRENT GOOD MANUFACTURING PRACTICES

• ALKEM LABS - SAMPLES OF PRODUCTS MENTIONED IN CDSCO LIST ARE SPURIOUS, NOT MANUFACTURED BY ALKEM

Source text for Eikon: ID:nBSE7nqD6X

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By Rishika Sadam

BENGALURU, Sept 26 (Reuters) - India's drug regulator has found more than 50 drugs, including some batches of widely used antacids and paracetamol, to be substandard or fake, according to government documents.

The regulator, Central Drugs Standard Control Organisation, releases a monthly list of substandard or fake medicines sold in the country after routine tests across the country by multiple agencies.

The regulator found some drugs as "not of standard quality", including a batch each of Alkem Laboratories' ALKE.NS popular antacid Pan-D, Hetero's anti-infective Cepodem and Shelcal, a vitamin and calcium tablet brand made by privately-owned Pure & Cure Healthcare, and several antibiotics, according to the lists for August.

Sun Pharmaceutical Industries SUN.NS separately informed the regulator of a fake batch of Pantocid, a popular Indian brand of an antacid called pantoprazole. The agency said it is investigating the matter.

Fake, or "spurious", batches of Sun's drug Pulmosil, used to treat high blood pressure in the lungs, and Glenmark Pharmaceuticals' GLEN.NS anti-hypertension drug Telma H, among others, were also notified by the companies to the regulator and were being investigated.

"When a medicine is found to be below quality standards, the drug regulator sends a notice to the manufacturer to check and recall that batch of product. Companies too conduct their own tests on leftover samples to check for the possibility of counterfeit," said Rajiv Singhal, general secretary of drug retailer body All India Organisation of Chemists and Druggists.

The companies did not immediately respond to Reuters' request for comment.

Gastrointestinal, anti-diabetic, vitamins and nutraceutical drug sales were one of the top contributors to the domestic pharma market growth in August, according to research firm Pharmarack.

India, one of the world's largest drug producers and exporters, is working to restore confidence after Indian-made cough syrups were linked to the deaths of children in Gambia, Uzbekistan, and Cameroon.

(Reporting by Rishika Sadam; Editing by Leroy Leo)

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Aug 9 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABS JUNE-QUARTER CONSOL NET PROFIT 5.45 BILLION RUPEES

• ALKEM LABS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 30.32 BILLION RUPEES

Source text for Eikon: ID:nBSE34w3Gb

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** Shares of Alkem Laboratories ALKE.NS rise 3.2% to 5,165 rupees; set to snap four-session losing streak

** Drugmaker says US FDA closed inspection at its manufacturing facility in Baddi and classified it as voluntary action indicated (VAI)

** VAI means objectionable conditions or practices were found, but the agency won't recommend any administrative or regulatory action, as per the regulator's website

** ALKE top pct gainer on Nifty pharma index .NIPHARM which is trading flat

** Mean rating of 18 analysts is "hold"; median PT is 4,780 rupees - LSEG data

** Stock down 0.2% this year, erasing most YTD losses, but underperforms NIfty pharma index's 16% climb

(Reporting by Kashish Tandon in Bengaluru)

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June 6 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABORATORIES LTD - CO AGREED TO INVEST 300 MILLION RUPEES IN SHARES OF HAYSTACKANALYTICS

• ALKEM LABORATORIES - PROPOSED INVESTMENT WILL HELP CO TO PARTICIPATE IN GROWING DIAGNOSTIC SPACE

Source text for Eikon: ID:nBSEsvr73

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May 7 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABORATORIES - CO GOT TAX ORDER FOR DEMAND OF 12.9 MILLION RUPEES

Source text for Eikon: ID:nBSEbSQzjg

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** Shares of India's Alkem Laboratories ALKE.NS down 2.5% at 4,880 rupees after falling as much as 3.7% earlier

** Drugmaker said it received ten post-inspection observations from U.S. Food and Drug Administration (US FDA)

** Stock set to snap four straight quarterly gains, down 6.7% so far

** Avg rating of 21 analysts is "hold", while shares currently trading ~3% higher than median TP of 4,748 rupees - LSEG data

** YTD stock has fallen 6.6% after a 74.5% surge in 2023

(Reporting by Hritam Mukherjee in Bengaluru)

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March 27 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• ALKEM LABORATORIES LTD - US FDA INSPECTION AT COMPANY'S MANUFACTURING FACILITY LOCATED AT BADDI, INDIA

• ALKEM LABORATORIES LTD - RECEIVED FORM 483 WITH TEN (10) OBSERVATIONS

Source text for Eikon: ID:nBSEc45FK2

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March 7 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• GOT GST ORDER WITH PENALTY OF 1.8 MILLION RUPEES

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** Shares of Alkem Laboratories ALKE.NS rise as much as 2.2% to 5099 rupees; last up 2%

** Drugmaker says U.S. FDA issued Establishment Inspection Report for co's API manufacturing facility at Mandva and inspection has been classified as Voluntary Action Indicated (VAI)

** Stock set to snap fourth straight sessions of losses

** Stock has been above its 100-day SMA since late Oct, and above its 200-day SMA since March, indicating bullish sentiment

** Avg rating of the 22 analysts is "hold" and median PT is 4,716 rupees, ~7% lower than current price - LSEG data

** Stock rose 74.5% in 2023, gaining most in a year since its listing in 2015

(Reporting by Anuran Sadhu in Bengaluru)

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Feb 28 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• CLOSURE OF US FDA INSPECTION AT COMPANY'S API MANUFACTURING FACILITY LOCATED AT MANDVA

• US FDA HAS ISSUED AN ESTABLISHMENT INSPECTION REPORT (EIR)

• INSPECTION HAS BEEN CLASSIFIED AS VOLUNTARY ACTION INDICATED AND WAS CLOSED ACCORDINGLY

  
  

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Adds company's response, updates shares

** Shares of Alkem Laboratories ALKE.NS down 7% at 5,039.90 rupees

** ALKE fell more than 14% earlier, its biggest intraday decline since March 2020

** India's income tax department found "bogus" tax claims worth over 10 bln rupees ($121 million), India Today reports, citing sources

** ALKE denied allegations in an exchange filing

** "Fully cooperated with the Income Tax Department officials during their survey proceedings in September 2023" - ALKE

** IT department did not immediately respond to Reuters' request for comment

** Nearly 2.1 mln shares change hands, its busiest session since August 2020

** Avg rating of 22 analysts on ALKE is "hold"; median PT is 4,716 rupees - LSEG data

** Stock down 3% YTD after rising 74.5% in 2023

($1 = 82.8720 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Jan 12 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• NAMES NITIN AGRAWAL AS THE CHIEF FINANCIAL OFFICER

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Dec 1 (Reuters) - Alkem Laboratories Ltd ALKE.NS:

• US FDA INSPECTION AT COMPANY'S API MANUFACTURING FACILITY LOCATED AT MANDVA

• CO RECEIVED FORM 483 WITH THREE OBSERVATIONS

• NO DATA INTEGRITY OBSERVATION

• US FDA HAD CONDUCTED INSPECTION FROM 27 NOVEMBER TO 1 DECEMBER

Source text for Eikon: ID:nBSE5T2THF

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** Shares of Alkem Laboratories ALKE.NS up as much as 6.8% to all-time high of 4,300 rupees; biggest intraday pct jump since May 13, 2022

** Drugmaker's stock closed 5.3% up on Tuesday after it posted Q2 profit jump; on track to rise for ninth straight session, if gains hold

** Nomura upgrades rating to "buy"; says easing pricing pressure in U.S. to drive sales, cooling raw material costs to improve margins

** Antique Stock Broking raises PT to 3,962 rupees from 3,496 rupees; says ALKE's margins to improve towards 19% by FY26 on growth in India and U.S. business

** Avg rating of 23 analysts tracking the stock at "hold"; median PT is 3,700 rupees - LSEG data

** Stock last up 5.7%, extending YTD gains to ~43%

(Reporting by Kashish Tandon in Bengaluru)

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