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Motilal Oswal Report
Biocon Ltd. delivered lower-than-expected performance for the quarter, largely weighed by operational challenges.
It remains on track to:
- improve traction in commercialised products and
- build a product pipeline of both biosimilars as well as generics.
We cut our earnings per share estimate by 15% and 10% for FY21 and FY22, factoring in a delay in the ramp-up of biosimilars (Pegfilgrastim/Trastuzumab) and reduced operating leverage.
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