Anand Rathi
Biocon, is one the largest and fully-integrated, innovation-led bio pharmaceutical company emerging globally bio pharmaceutical enterprise serving customers in over 120 countries.
The Top 10 brands in its India portfolio reported a strong double digit growth.
The key developments during the quarter were approval of Fulphila (Pegfilgrastim) Biosimilar co-developed by Biocon and Mylan for launch in US markets.
related news City Union Bank may touch Rs 218: Anand Rathi Slideshow | 7 stocks that can return 10-30% in medium termThe company's sterile Drug Product manufacturing facility in Bengaluru received EIR from USFDA and EUGMP certification.
Syngene extended its collaboration with Baxter upto 2024 and strengthens its growing client base amongst others.
Going ahead, we continue to expect company to get benefits of first wave of Biosimilar commercialization in the next two years which should drive higher revenues along with higher growth in formulation business on back of new launches and deeper penetration.
We expect company to grow at a CAGR of around 29 percent over next two years which should also improve better profit margins going ahead.
We have a buy rating with a target price of Rs 823 per share (61x FY19e EPS of 13.50).
Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Mar 5, 2019 03:45 pm
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