ICICI Direct has given Hold recommendation for Biocon with a target price of Rs. 400 in its research report issued on Jul 23, 2021

ICICI Direct’s research report on Biocon

Biocon is a leading biopharma company operating in biologics, small molecules, branded formulations and contract research. Revenue breakup: Biosimilars (37%), generics (31%), research services (29%)

Biosimilar/Insulin US pipeline- (Launched – Pegfilgrastim, Trastuzumab, Glargine; Aspart (expected in FY22E) and Bevacizumab (delayed)

Outlook

We maintain our HOLD rating on the stock  We value Biocon at Rs 400 on SOTP basis

 

 

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