Biocon-Limited-CMP

Biocon Limited is a globally recognized, innovation-led organization that is enabling access to high quality, advanced therapies for diseases that are chronic, where medical needs are largely unmet and treatment costs are high. Biocon is a leading global player for biosimilars and APIs for statins, immunosuppressants and other specialty molecules, with customers in over 120 countries.

Stock Details

Market Cap. (Cr.) 51048.00
Face Value 5.00
Equity (Cr.) 600.00
52 Wk. high/low 455.00/212.40
BSE Code 532523
NSE Code BIOCON
Book Value (Rs) 55.87
Industry Pharmaceutical
P/E 72.04

 

Share Holding Pattern %

Promoter

60.67
FIIs 16.99
Institutions 7.18
Non Promoter Corp. 1.03
Public & Others

Government

14.14

0.00

Total 100.00

Biocon-Limited-Price-ChartKey Highlights:

  • Generic is the new name for Small Molecules segment. Generic Portfolio Includes statins (help to lower cholesterol levels), Immuno suppressants and other Biopharma. The company is exploring fewer opportunities but with higher profitability in this segment.

  • Biocon partner Mylan launched Semglee (its long acting biosimilar insulin glargine) for adult as well as pediatric patients with type-1 diabetes and adults with type-2 diabetes in the US. While Semglee is launched as the 2nd biosimilar insulin glargine in US, it is first to offer the product both in vial and pre-filled pen presentations. This launch is a critical milestone for Biocon biosimilar revenue guidance of US$ 1bn by FY22.

  • Tata Capital will invest Rs 225 crore for a 0.85% minority stake in the biosimilar business, valuing Biocon Biologics at an equity valuation of Rs 26,250 crore. Post the completion of this transaction, Biocon will hold 95.25% stake in Biocon Biologics. The equity infusion by Tata Capital will enable Biocon Biologics’ future growth through prudent capital allocation

  • ALZUMAb (Itolizumab), novel biologic, launched in India for the treatment of chronic plaque psoriasis in 2013, is being repurposed for the prevention and treatment of COVID-19 complications.

  • Consolidated revenue for Q1FY21 stood at Rs 1,671 Crore, recording a strong growth of 14.6%, driven by robust performances by the Biosimilars and Generics business segments.

Outlook:

Biocon target to have at least eight of its biosimilars available in developed markets through its partner by the end of FY22 viz. Trastuzumab, Pegfilgrastim, Adalimumab, Bevacizumab, Etanercept, Insulin Glargine, Insulin Aspart and rh-Insulin, addressing an estimated market opportunity of up to USD 33 billion. It also aims to list its biosimilar unit Biocon Biologics in the next two to three years, depending on the market conditions. Biocon Biologics has been an early mover in the development and commercialization of biosimilars and has become the leading player based out of India (based on number of US and EU biosimilar approvals) and in other key markets, like Brazil. Semglee is launched as the 2nd biosimilar insulin glargine in US, it is first to offer the product both in vial and pre-filled pen presentations. This launch is a critical milestone for Biocon biosimilar revenue guidance of US$ 1bn by FY22. We have positive outlook on Biocon seeking its futures prospects and growth outlook. Therefore we initiate buy on Biocon for the target price of Rs.525.

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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