We can see an upside of 32.5 percent from Rs 621 with a target of 823 in Biocon. It is one the largest and fully-integrated, innovation-led bio pharmaceutical company emerging globally bio pharmaceutical enterprise serving customers in over 120 countries.
The company has reported a growth of 21.2 percent in its consolidated revenues at Rs 1,123 crore in Q1-FY19 as against Rs 927 crore in Q1-FY18.
Profit after tax for the company grew by 47 percent and stood at Rs 119 crore in Q1-FY19 against Rs 81 crore in Q1-FY18.
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.
The company’s sterile Drug Product manufacturing facility in Bengaluru received EIR from USFDA and EUGMP certification.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
