The British pharmaceuticals group hopes that 2017 will be the earnings trough, but its recovery hinges on the success of new medicines and results from a clinical trial of a combination of two lung cancer drugs, which investors view as risky.
Analysts predict Q3 to be a tough quarter with revenue growth moderating to 11.7 percent in October-December period compared to 18.4 percent compounded annual growth rate (CAGR) over last 10 years
Biotechnology major Biocon reported 19.8 percent rise in revenue to Rs 796.2 crore year-on-year and margins grew to 25.2 percent from 21.2 percent in the second quarter of FY17. The company‘s standalones sale grew 17 percent in Q2.
The cardiac drug, Crestor, is said to be one of the biggest launches for USFDA this year and the market size for the drug is about USD 3 billion, reports Ekta Batra of CNBC-TV18. The drug goes off patent tomorrow in the US.