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Jul 17, 2017 04:08 PM IST | Source:

Hold Biocon; target of Rs 375: ICICI Direct

ICICI Direct has recommended hold rating on Biocon with a target price of Rs 375 in its research report dated July 14, 2017.

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  • nselive
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ICICI Direct’s research report on Biocon

Biocon and Mylan are exclusive partners for biosimilar and insulin products. Trastuzumab is one of the six products co - developed by Biocon  and  Mylan for  global markets . Mylan has exclusive commercial rights for  the proposed biosimilar  Trastuzumab in the US, Canada, Japan, Australia,  New Zealand and Europe. Biocon has co - exclusive commercial rights with  Mylan in the rest of the world.


We  have  assigned NPV value  for the US meant Trastuzumab after considering the market and other  dynamics . According ly , we arrive at  our new SOTP target price  of | 375 (from | 340 earlier). Given the recent  run - up in the stock , the  upside is  already  priced - in. Hence , we maintain our  HOLD recommendation.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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