Buy Jubilant Organosys, target of Rs 135: KRChoksey

KRChoksey has maintained its buy rating on Jubilant Organosys with a target price of Rs 135 in its March 3, 2009 research report.
"Jubilant being the first generic player to launch the drug in Canada would get the first mover advantage as there would be only two player in the market including the innovator company BMS for the same. The total market size of the drug in Canada is estimated to be around USD 25 million whereas globally it is expected to be around USD 800 million."
"We maintain our positive view as Jubilant is the first company to receive the approval from the Health Canada for the generic version Sestamibi, which opens an opportunity of USD 25 million from the Canadian market alone for the company. We maintain our BUY rating to the stock with a 12 month price objective of Rs 135," says KRChoksey's research report.