Biocon - Pandemic Times: Centrum Broking
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Centrum Broking Report
Biocon Ltd. Q3 FY21 earnings were below Centrum Broking estimates.
The key challenges to growth have been observed amid the pandemic environment impacted by market share gain for existing products along with product switch.
Also, Insulin glargine delays in tender awards (formulary contracts) may push ramp-up to CY22.
The MoW scale-up also impacted amid the Covid-19 environment.
The new product approvals like bBevacizumab, Insulin-Aspart and RH insulin anticipated to be delayed as on-site inspections by U.S. Food and Drug Administration still deferred.
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