Sharekhan's research report on Biocon
Biocon reported strong numbers and results were in line with estimates. The Biologics segment drove the strong show, while generics and research services also staged a double digit growth. Biocon has laid a strong platform for growth of biosimilars in insulin and oncology franchise across its key markets. Strong growth outlook for biosimilars, expected improvement in generics segment and a healthy growth in the research services segment would be key growth drivers for Biocon. Possible listing of Biocon Biologics would provide value unlocking opportunity for the investors.
We retain Buy on the stock of Biocon with an unchanged price target (PT) of Rs 420.
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