Siddharth Sedani
Anand Rathi Shares and Stock Brokers
Biocon 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.
Related stories
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 US FDA 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 commercialisation 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.
Disclaimer: The author is Vice President - Equity Advisory, Anand Rathi Shares and Stock Brokers. The views and investment tips expressed by investment experts/broking houses/rating agencies on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
