Citi puts Sun Pharma on its Pan Asia Focus list

Business Sep 18, 2025

Citi just put Sun Pharma, India's biggest drugmaker, on its Pan Asia Focus List and stuck with a 'Buy' call.
Their new price target is ₹2,180—about 35% higher than where the stock closed on Wednesday.

Innovation revenues could nearly triple by 2030: Citi

Citi thinks Sun Pharma's innovation revenues could nearly triple by 2030, thanks to US growth for Leqselvi and Ilumya's PsA approval.
But not everyone's convinced—Bank of America downgraded the stock last month over earnings risks and high prices, setting a lower target at ₹1,570.

Shares down 14% this year

While most analysts still say 'Buy,' Sun Pharma shares are down 14% this year.
Even so, Citi expects the company's earnings to beat estimates in the next few years.