BUZZ-PREVIEW-India's Sun Pharma likely to see jump in Q3 profit

Analysts, on avg, expect Sun Pharma SUN.NS, India's top drugmaker by rev, to report ~14% Y/Y climb in Q3 profit, rev to grow 8.4% Y/Y - LSEG data

Drugmaker's Q2 profit grew 28% on strong demand for specialty drugs, which treat conditions such as alopecia and psoriasis

Stock up 0.6% ahead of results today

Analysts expect SUN's Q3 results to be boosted by strong sales of specialty drugs in U.S. and an uptick in sales of its cancer drug gRevlimid

Domestic sales to benefit from steady demand for chronic drugs

However, SUN's rivals Cipla CIPL.NS and Dr Reddy's REDY.NS both saw muted growth in their key North American market

Analysts, on avg, rate SUN "buy", CIPL and REDY rated "hold" - LSEG

SUN's 50% jump in 2024 was highest vs CIPL's 23% and REDY's 20% gain; Nifty Pharma index .NIPHARM rose 39%