The Searle Company Limited

We reiterate our ‘BUY’ stance on SEARL with a Jun’26 target price of PKR 140/sh., offering an upside of ~22% over the LDCP. Our investment thesis is primarily based on: (i) deregulation of non-essential drugs i.e. 80% share in the product mix; (ii) stabiliz ing and gradually improving macroeconomic conditions; (iii) re duction in leverage coupled with lower interest rates reducing finance costs; (iv) rising per capita expenditure on healthcare, fueling consistent demand for p ...

The 2QCY25 results for pharmaceutical sector have started to come in, reflecting a mixed performance, with some companies posting growth while others underperformed. The sector underwent a major shift last year when the government deregulated prices of non essential medicines. This policy change has driven a sharp rise in revenues and margins over the past four quarters, though the extent and timing of the impact varied across companies depending on their cost adjustments, se ...

The benchmark index closed on a negative note, with volatility persisting throughout the session, largely attributed to the start of the rollover week. Trading volumes decreased to 211mn shares today as compared to 336mn shares in the previous session. Today, the KSE-100 index lost 678 points to close at 148,815 level, down by -0.45% DoD. Commercial Banks, Technology & Communication, and Oil & Gas Exploration Companies sectors were the major laggards in today's session, cumul ...