IPCALAB

** Shares of Ipca Laboratories IPCA.NS fall 2.8% to 1,384.7 rupees

** Nomura says pharma co's 8-10% FY26 rev growth guidance lower than brokerage's previous estimates, reduces PT by 9.7% to 1,590 rupees, keeps "buy" rating on stock

** HSBC Research cuts PT by 2.9% to 1,330 rupees, maintains "hold"; expects volatility in IPCA's export revenues to outweigh India growth

** HSBC says startup costs for four plants and input cost swings could also weigh on IPCA's margins in near-term

** IPCA reported 13.8% Y/Y rise in Q4 consol net profit; rev up 10.5%

** More than 616,000 shares traded, nearly 3 times the 30-day avg

** Avg rating on stock is "buy;" median PT is 1,615.5 rupees - data compiled by LSEG

** Stock down 18.3% YTD

(Reporting by Aleef Jahan in Bengaluru)

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Adds analyst comments in paragraphs 11-12, updates share moves throughout

By Manas Mishra and Ananta Agarwal

April 9 (Reuters) - Global drugmakers' stocks dropped across the board after U.S. President Donald Trump reiterated plans for a "major" tariff on pharmaceutical imports, threatening an interwoven global supply chain, and as his country-specific reciprocal tariffs took effect, leading to more pain in global markets.

Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs last week — but his administration has since indicated that levies on the sector, which in the past has been excluded from such actions, are coming.

The U.S. president has said the tariffs will incentivize drug companies to move operations to the United States. However, analysts and companies have raised concerns about the difficulty in setting up manufacturing in the country.

Shares of major U.S. drugmakers Amgen AMGN.O, AbbVie ABBV.N, Pfizer PFE.N, Merck MRK.N and Eli Lilly LLY.N fell between 3% and 6% in premarket trading.

In Europe, a basket of healthcare stocks .SXDP fell 5% to its lowest since October 2022, leading losses among sectoral indexes on the region-wide STOXX 600 .STOXX, which was down 3.3% at 1013 GMT. The index was heading for its biggest one-day drop since March 2020.

Trump had also threatened the duties on Friday after his first set of "reciprocal" tariffs exempted pharma products. Trump has not said when and by how much he plans to raise levies on pharma imports.

"While the details are scant, we are strongly opposed to tariffs on any pharmaceuticals — these will likely do little to shift manufacturing back to the U.S.," said BMO Capital Markets analyst Evan Seigerman.

"Given the complexity of the pharma supply chain, we do not expect the industry to make any major changes. These current tariffs are being pursued under emergency powers, which at worse will last until the end of the current administration and could end sooner with an act of Congress."

Seigerman also pointed to concerns over recent layoffs at the U.S. Food and Drug Administration, saying the worries were now compounded by the "real talk" of pharma tariffs.

ADDITIONAL COSTS, LONG WAIT FOR PRODUCTION

Europe and the U.S. have interconnected supply chains for medicines. The United States depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.

Bernstein analyst Courtney Breen wrote in a note that her worst-case scenario assumes tariffs could be steep, leading to about $53 billion in additional costs paid for pharmaceutical imports.

If companies did choose to bring new manufacturing to the United States, Breen expects additional spend of $2 billion for each new "green field" site and a five-year runway to production.

EU medical and pharmaceutical product exports to the U.S. totaled about 90 billion euros ($97 billion) in 2023, according to latest Eurostat data.

Shares of AstraZeneca AZN.L, GSK GSK.L, Roche ROG.S, Sanofi SASY.PA and Novartis NOVN.S fell between 5% and 6.5% in Europe. Meanwhile, Indian pharmaceutical stocks .NIPHARM closed nearly 2% lower, dragging down the benchmark Nifty 50 .NSEI by 0.6%.

IPCA Laboratories IPCA.NS, Glenmark Pharma GLEN.NS and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4% and 5.5% lower.

India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India's overall pharma exports.

(Reporting by Kashish Tandon, Ananta Agarwal and Manas Mishra in Bengaluru and Anna Pruchnicka in Gdansk; Editing by Savio D'Souza, Mrigank Dhaniwala and Shounak Dasgupta)

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By Kashish Tandon

April 4 (Reuters) - Indian pharmaceutical stocks .NIPHARM fell 4.4% on Friday, wiping out gains from the previous session, after U.S. President Donald Trump threatened steep tariffs on the sector.

"Pharma (tariffs) is going to be starting to come in, I think, at a level that you haven't really seen before," Trump told reporters aboard Air Force One.

"That will be announced in the near future, and is under review right now," Trump said.

The index was among the top sectoral losers by percentage on the benchmark Nifty 50 .NSEI, which was down about 1.2% at 11:25 a.m. IST.

All 20 constituents of the pharma index were trading in the red, with Sun Pharma SUN.NS, Dr Reddy's REDY.NS and Cipla CIPL.NS being the biggest drags.

Lupin LUPN.NS, Aurobindo Pharma ARBN. and Ipca Laboratories IPCA.NS fell about 6.5% each, and were the top losers by percentage.

Trump imposed a 10% tariff on most U.S. imports earlier this week, as well as much higher levies on dozens of rivals and allies alike, but temporarily exempted some goods, including pharmaceuticals, benefiting major exporters including India, Japan and Ireland.

Pharma stocks were a rare bright spot on Thursday as global drugmakers gained on relief that their products remained temporarily shielded from the tariffs.

However, executives and analysts had warned it was premature to celebrate as levies were still likely to come.

"If these tariffs are introduced, the manufacturers will have no choice but to pass on the impact to consumers," said Vishal Manchanda, an analyst at Systematix Institutional Equities.

Indian drugmakers have been on a 'wait and watch' mode and also raised concerns on the difficulty in setting up manufacturing in the U.S., a move that would increase their costs.

Trump in his Wednesday address had predicted pharma companies would come "roaring back" to the U.S, and warned that "they got a big tax to pay" if they don't.

(Reporting by Kashish Tandon in Bengaluru; Editing by Varun H K)

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March 28 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• TO SELL TARAPUR MANUFACTURING FACILITY FOR 369 MILLION RUPEES

• TO ACQUIRE UNICHEM IRELAND FOR 40 MILLION RUPEES

Source text: ID:nBSE9rf232

Further company coverage: IPCA.NS

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Feb 13 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• IPCA LABS DEC-QUARTER CONSOL NET PROFIT 2.48 BILLION RUPEES

• IPCA LABS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 22.45 BILLION RUPEES

Source text: ID:nBSEc00yn9

Further company coverage: IPCA.NS

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Feb 7 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• RECEIVES TAX ORDER WITH DEMAND OF 9 MILLION RUPEES

Source text: ID:nBSEdW8yV

Further company coverage: IPCA.NS

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Dec 4 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• RECEIVED NECESSARY APPROVAL FOR VOLUNTARY CLOSURE OF SUBSIDIARY

Source text: ID:nBSEbrTx82

Further company coverage: IPCA.NS

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Nov 14 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• IPCA LABS SEPT-QUARTER CONSOL NET PROFIT 2.29 BILLION RUPEES

• IPCA LABS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 23.55 BILLION RUPEES

• IPCA LABS - DIVIDEND OF 2 RUPEES PER SHARE

Source text: ID:nBSE57jkvS

Further company coverage: IPCA.NS

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Sept 30 (Reuters) - Unichem Laboratories Ltd UNLB.NS:

• APPROVED ENTERING INTO AGREEMENTS WITH BAYSHORE PHARMACEUTICALS LLC

• PURCHASE OF RIGHTS, TITLE, INTEREST IN PRODUCT, GOODWILL ASSOCIATED WITH 9 ANDAS OF BAYSHORE USA

• PURCHASE FOR $2.7 MILLION

• UNIT TO BUY USA GENERICS FORMULATIONS MARKETING/DISTRIBUTION BUSINESS OF BAYSHORE USA

• UNIT'S DEAL FOR $10 MILLION

Source text for Eikon: ID:nBSENh6PT

Further company coverage: UNLB.NS

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Sept 20 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• GOT TAX ORDER UPHOLDING DEMAND OF 5.5 MILLION RUPEES

Source text for Eikon: ID:nBSE9Bqg1V

Further company coverage: IPCA.NS

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Aug 13 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• IPCA LABS JUNE-QUARTER CONSOL NET PAT 1.92 BILLION RUPEES

• IPCA LABS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 20.93 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: IPCA.NS

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** Shares of Ipca Laboratories IPCA.NS rise as much as 4.04% to 1,207.50 rupees apiece

** The active pharmaceutical ingredients (API) manufacturer reports 67% year-on-year rise in consolidated net profit to 1.80 bln rupees

** Revenue from operations gains 33% to 20.53 bln rupees

** IPCA is among the only five gainers among 19 pharma stocks; pharma index .NIPHARM slips 1.27% as of 2:12 p.m. IST

** The mean recommendation of the 14 analysts tracking IPCA is "hold", median price target at 985 rupees, 18.4% lower than the current price - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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Oct 31 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• CLASSIFICATION OF USFDA INSPECTION FOR MANUFACTURING FACILITY AT SEZ INDORE, PITHAMPUR

• MANUFACTURING FACILITY AT SEZ INDORE, PITHAMPUR RECEIVED ESTABLISHMENT INSPECTION REPORT

• ESTABLISHMENT INSPECTION REPORT CLASSIFYING MANUFACTURING FACILITY AS VOLUNTARY ACTION INDICATED (VAI)

• FACILITY CONSIDERED TO BE IN MINIMALLY ACCEPTABLE STATE OF COMPLIANCE WITH REGARD TO CGMP

Source text for Eikon: ID:nBSE6scx4v

Further company coverage: IPCA.NS

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** Shares of Ipca Laboratories IPCA.NS rise 7.81% to a 14-month high of 1,009 rupees

** Stock top gainer in pharma index .NIPHARM which is down 1.2%

** Co on Friday received voluntary action indicated (VAI) classification from the U.S. Food and Drug Administration (FDA) for its Madhya Pradesh facility

** VAI implies that the U.S. drug regulator will not take regulatory action against the company

** Stock is most active in six months, with a trading volume of 5.05 mln shares as of 1:38 p.m. IST - LSEG data

** Avg rating of 16 analysts close to equivalent of 'hold;' median PT is 865 rupees

** Stock last up ~6.8%, taking YTD gains to ~19%, compared to 18.5% rise in pharma index

(Reporting by Bharath Rajeswaran in Bengaluru)

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Aug 24 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• USFDA INSPECTION UPDATE OF PIPARIA FORMULATIONS MANUFACTURING FACILITY

• US FDA HAVE DETERMINED INSPECTION CLASSIFICATION OF MANUFACTURING FACILITY AS "VOLUNTARY ACTION INDICATED

• FACILITY CONSIDERED TO BE IN MINIMALLY ACCEPTABLE STATE OF COMPLIANCE WITH REGARDS TO CURRENT GOOD MANUFACTURING PRACTICE

Source text for Eikon: ID:nBSE76D1jM

Further company coverage: IPCA.NS

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Aug 10 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• IPCA LABORATORIES LTD - RE-APPOINTS PRANAY GODHA AS MD

Source text for Eikon: ID:nBSECZd1z

Further company coverage: IPCA.NS

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Aug 2 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• AFTER CCI APPROVAL, CO ACQUIRED ABOUT 33.38% OF PAID UP EQUITY SHARE CAPITAL OF UNICHEM LABORATORIES

• DEAL FOR 9.45 BILLION RUPEES

Source text for Eikon: ID:nBSEVdzbP

Further company coverage: IPCA.NS

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July 27 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• COMPETITION REGULATOR APPROVES ACQUISITION OF UPTO 59.38% STAKE OF UNICHEM LABORATORIES BY IPCA LABORATORIES

Source text for Eikon: [ID:]

Further company coverage: IPCA.NS

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June 23 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• US FDA CONDUCTED INSPECTION OF CO'S FORMULATIONS MANUFACTURING FACILITY SITUATED AT PITHAMPUR

• AT CLOSE OF INSPECTION US FDA ISSUED FORM 483 WITH 8 OBSERVATIONS

Source text for Eikon: ID:nBSE26c06

Further company coverage: IPCA.NS

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** Shares of Ipca Laboratories Ltd IPCA.NS fall as much as 3.1% to 712.4 rupees, biggest intraday pct loss since April 26

** Pharmaceutical firm says USFDA issued 11 observations at the conclusion of inspection at IPCA's manufacturing facility in Madhya Pradesh state

** "Will submit response on observations to USFDA and shall work with agency to resolve issues at the earliest" - IPCA

** Stock trading below its 50-, 100-, and 200-day moving averages

** Trading volume at ~521,200 shares, 0.9x the 30-day avg of ~610,700 shares as of 9:40 a.m. IST

** Average rating of 19 analysts covering stock equivalent of "hold"; median PT is 865 rupees - Refinitiv data

** Including session's losses, stock last down nearly 14% so far this year

(Reporting by Biplob Kumar Das in Bengaluru)

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May 29 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• MARCH-QUARTER CONSOL NET PROFIT 765.2 MILLION RUPEES VERSUS 1.3 BILLION RUPEES YEAR AGO

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 15.12 BILLION RUPEES VERSUS 12.89 BILLION RUPEES YEAR AGO

Source text for Eikon: ID:nBSE7ZyYgL

Further company coverage: IPCA.NS

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April 27 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• US FDA CONDUCTED INSPECTION OF CO'S FORMULATIONS MANUFACTURING UNIT SITUATED AT PIPARIA

• US FDA ISSUED A FORM 483 WITH 3 OBSERVATIONS

Source text for Eikon: ID:nBSE3CFsKW

Further company coverage: IPCA.NS

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BENGALURU, April 25 (Reuters) - Shares of Indian pharmaceutical firm Ipca Laboratories IPCA.NS fell as much as 9.1% to a near three-year low on Tuesday, after it agreed to buy a 33.38% stake in Unichem Laboratories UNLB.NS for up to 10.34 billion rupees ($126.3 million).

($1 = 81.8700 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Sonia Cheema)

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April 24 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• APPROVED ENTERING INTO DEFINITIVE SHARE PURCHASE AGREEMENT FOR ACQUISITION OF 33.38% STAKE IN UNICHEM LABORATORIES

• DEAL FOR 10.34 BILLION RUPEES

• ALSO APPROVED MAKING OPEN OFFER TO PUBLIC SHAREHOLDERS OF UNCIHEM LABS TO ACQUIRE UP TO 26% STAKE FOR 8.05 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: IPCA.NS

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April 18 (Reuters) - IPCA Laboratories Ltd IPCA.NS:

• LYKA LABS LTD - CONSIDERED ISSUE OF 2.4 MILLION SHARES UPON CONVERSION OF WARRANTS TO IPCA LABORATORIES

Source text for Eikon: ID:nBSE2W4l8J

Further company coverage: IPCA.NS

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