Ashwani Gujral of ashwanigujral.com recommends buying Yes Bank, Indiabulls Housing, ICICI Prudential and Biocon.
These biosimilars are in early stages of development. As the cost incurred during the early stages are not significant we don’t expect our R&D costs to go up materially as of now.
The company is trying to combine forces with companies who have been successful in biosimilars, said Kiran Mazumdar Shaw, CMD, Biocon.
Sandoz will lead commercialisation in North America and the European Union, while Biocon will lead commercialisation in the rest of the world.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Glenmark Pharma and Jain Irrigation Systems and can sell Biocon.
The market breadth was in favour of the advances on Monday afternoon with 1065 stocks advancing as against 665 declines while 291 remained unchanged. On the other hand, 1801 stocks advanced and 1121 stocks declined while 116 remained unchanged on the BSE.
The market breadth was in favour of the advances on Monday morning with 1161 stocks advancing as against 467 declines while 386 remained unchanged. On the other hand, 1633 stocks advanced and 676 stocks declined while 88 remained unchanged on the BSE.
Biosimilar trastuzumab, indicated for breast cancer treatment, has been co-developed by Biocon and Mylan.
The market breadth was in favour of the advances on Tuesday afternoon with 1308 stocks advancing as against 383 declines while 298 remained unchanged. On the other hand, 1831 stocks advanced and 775 stocks declined while 175 remained unchanged on the BSE.
The biologics business consists biosimilars that include monoclonal antibodies and recombinant insulins and novel biologics
Mylan and Biocon said that USFDA approved Mylan’s Ogivri, a biosimilar to Swiss biotech giant Roche's blockbuster cancer drug Herceptin, co-developed with Biocon.
The shares of Biocon opened at Rs 445, then surged 3.92 percent to touch an intra-day high of Rs 449.20 and finally settled for the day at Rs 446.55, up 3.31 percent over its previous closing price
The market size for Bevacizumab, both innovator product and biosimilars, in India is estimated at Rs 177 Crore (USD 27 million), according to IPSOS June MAT 2017 data.
The biosimilar product will be used for the treatment of patients with metastatic colorectal cancer and other types of lung, kidney, cervical, ovarian and brain cancers in India, Biocon said in a filing to the BSE.
The company has been told that the May inspection has been closed and they can carry on CAPA implementation, said Kiran Mazumdar Shaw, CMD, Biocon.
"The US Food and Drug Administration (USFDA) has issued an Establishment Inspection Report in relation to the cGMP (current good manufacturing practice) inspection of its aseptic drug product facility that was audited between May 25 -June 3, 2017," Biocon said in a BSE filing.
The company today said the expanded scope of partnership also includes addition of a new facility and ramping up the team of scientists working for it.
Axis Direct is bullish on Biocon has recommended buy rating on the stock with a target price of Rs 410 in its research report dated November 02, 2017.
In an interview to CNBC-TV18, Kiran Mazumdar Shaw, Chairperson & MD of Biocon spoke about the results and her outlook for the company.
Net Sales are expected to increase by 8.4 percent Y-o-Y (up 9.1 percent Q-o-Q) to Rs. 1018.9 crore, according to Kotak.
Sandeep Wagle of powermywealth.com suggests buying Hexaware Technologies and Biocon.
Prakash Gaba of prakashgaba.com is of the view that one can go long in Apollo Hospitals and Biocon.
This product is a part of the biosimilars portfolio being developed jointly by Biocon and Mylan. "The US Food and Drug Administration has issued a CRL for Mylan's Biologics License Application (BLA) for MYL-1401H, a proposed biosimilar Pegfilgrastim", Biocon spokesperson said in a statement.
The company, however said it does not expect this CRL to impact the commercial launch timing of biosimilar Pegfilgrastim in the US. This product is a part of the biosimilars portfolio being developed jointly by Biocon and Mylan.
Ashwani Gujral of ashwanigujral.com recommends buying Prestige Estates, MOIL, TVS Motor, Kotak Mahindra Bank and Bata India.