Apotex Health is dominating the Canadian generic drugs market, and the trend is likely positive from here. Desjardins analyst Gary Ho says the recently IPOed Apotex holds about 23% of the Canadian generic market, where one in five generic prescriptions in Canada is an Apotex product. He says the company's dominant position is also supported by over 50 years of "brand equity, deep pharmacy relationships and a manufacturing footprint that competitors cannot easily replicate." What's more, demand is driven by an aging population and healthcare system cost pressures that provide resilience across macro environments, Ho says. "With a 24.4% return to our C$40 target, we are initiating coverage with a buy," Ho says. (adriano.marchese@wsj.com)
Dow Jones Newswires
Apotex Health's Success in the Canadian Generic Drug Market Can Continue — Market Talk
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Apotex Health is dominating the Canadian generic drugs market, and the trend is likely positive from here. Desjardins analyst Gary Ho says the recently IPOed Apotex holds about 23% of the Canadian generic market, where one in five generic prescriptions in Canada is an Apotex product. He says the co…