Biocon Q2 Review - Steady Numbers Amid Better Margins: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Biocon Ltd. reported steady Q2 FY22 results. Revenue was up 5.5% YoY to Rs 1,840.4 crore. Ebitda in Q2 FY22 was Rs 445.8 crore, down 13.9% YoY with margins at 24%. Consequent profit after tax was at Rs 138.3 crore (down 18.3% YoY).Key triggers for future price performanceBiosimilars - 1) market share gains in existing biosimilar products in U.S., 2) expected approvals and launches of bBevacizumab and bAspart, 3) bGlargine ramp up post interchangeability approval and formulary registration in the U.S. Geographical expansion and marketing authorisation for bBevacizumab in Australia, U.K. and overall biosimilar performances in MOW markets. Developments on the vaccines front post strategic alliance with Serum. CRAMs - Syngene Mangalore facility customer validations and approvals. Generics - Ramp-up of Tacrolimus along with Labetalol & Esomeprazole opportunity in U.S. with market-size ~ $63 million & $230 million, respectively..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Biocon Q2 Review - Steady Numbers Amid Better Margins: ICICI Direct

Biocon Q2 Review - Steady Numbers Amid Better Margins: ICICI Direct

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