#lauruslabs Q1 results key takeaways:
1. Diversification away from ARV
In b/w lines:
Currently 85% of filings in US/EU are ARV. This represents 11B$ of market opportunity.
But products under development (which represent 37B$ of opportunity) are skewed 80/20 for non-arv.
1. Diversification away from ARV
In b/w lines:
Currently 85% of filings in US/EU are ARV. This represents 11B$ of market opportunity.
But products under development (which represent 37B$ of opportunity) are skewed 80/20 for non-arv.
2. CDMO segment growth can surprise on upside.
In b/w lines:
the 195cr revenue in Q1 did not contain any one-offs. This represents a very good growth YoY growth of ~100%. Generally Q4 is strongest and Q1 this time was even higher. Only 4 products commercialised.
In b/w lines:
the 195cr revenue in Q1 did not contain any one-offs. This represents a very good growth YoY growth of ~100%. Generally Q4 is strongest and Q1 this time was even higher. Only 4 products commercialised.
Huge potential for the 40+ products in pipeline. expecting this to drive growth in US and EU markets.
3. ARV market share gains to be limited
3. ARV market share gains to be limited
In b/w lines: ARV market is only growing at single digit. laurus already has 33% market share. Cant get much more. Cost is not only factor considered when awarding contracts. Also, ARV FDF manufacturing consumes more equipment since it requires 3 APIs for each FDF.
This also means that as Laurus shifts away from ARV, the asset turns can potentially improve even more.
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