Global Health: Operating leverage intact; Noida breakeven timeline advances

Research evidence excerpt

Global Health: Operating leverage intact; Noida breakeven timeline advances

responsible for the contents hereof, apart from the liabilities and responsibilities that may be imposed on them by the relevant

regulatory authority in the jurisdiction in question, or the regulatory regime thereunder. Opinions, forecasts or projections contained in this

material represent J.P. Morgan's current opinions or judgment as of the date of the material only and are therefore subject to change without

notice. Periodic updates may be provided on companies/industries based on company-specific developments or announcements, market

conditions or any other publicly available information. There can be no assurance that future results or events will be consistent with any such

opinions, forecasts or projections, which represent only one possible outcome. Furthermore, such opinions, forecasts or projections are subject

to certain risks, uncertainties and assumptions that have not been verified, and future actual results or events could differ materially. The value

of, or income from, any investments referred to in this material may fluctuate and/or be affected by changes in exchange rates. All pricing is

indicative as of the close of market for the securities discussed, unless otherwise stated. Past performance is not indicative of future results.

Accordingly, investors may receive back less than originally invested. This material is not intended as an offer or solicitation for the purchase or

sale of any financial instrument. The opinions and recommendations herein do not take into account individual client circumstances, objectives,

or needs and are not intended as recommendations of particular securities, financial instruments or strategies to particular clients. This material