BUZZ-Nomura upgrades Zydus Lifesciences to 'buy' on agreement with CVS subsidiary
** Shares of Zydus Lifesciences ZYDU.NS close ~3% higher at 1,010.50 rupees
** Nomura upgrades stock to 'buy' from 'neutral', raises PT to 1,140 rupees from 1,030 rupees, implying a ~13% upside
** Sales to rise after CVS Health's CVS.N subsidiary CVS Caremark added co's medications to its template formulary nL4N3O30ML
** Formulary is a list of prescription medicines covered by a health insurance plan
** Brokerage raises Zydus Lifesciences' FY26 and FY27 earnings estimates by 6% each; estimates opportunity size for Zydus to be ~$100 mln to $150 mln
** Shares of co have gained ~38% in last 12 months vs 24.3% gain in the Nifty pharma sub index .NIPHARM
($1 = 85.8790 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru)
((Ananta.Agarwal@thomsonreuters.com))
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