BIOCON
JPMORGAN ON BIOCON : 26.07.2021
* JPMorgan sees limited scope for meaningfully higher revenue from current launches in the case of Biocon, maintains NEUTRAL on the stock
* Limited Scope For Meaningfully Higher Revenues From Current Launches
* IC Status For Glargine, Facility Inspection For Aspart & Beva Crucial For Step-up In Revenue
• Incremental Earnings From Upcoming Launches Are More Than Factored At Current Levels
* MAINTAIN NEUTRAL TARGET: 355
MORGAN STANLEY ON BIOCON : 26.07.2021
* MS shares its view on Biocon, says current portfolio of biosimilars is taking time to gain market share. The brokerage maintains an EQUAL-WEIGHT rating on the stock
* MAINTAIN EQUAL-WEIGHT TARGET: 371
* Current Portfolio of Biosimilars Is Taking Time To Gain Market Share
• New Products Are Stalled In The Regulatory Process
* R&D Spending Could Rise As New Drugs Enter Clinical Trials
* Capex Intensity Should Remain Elevated
CLSA ON BIOCON : 06.07.2021
* MAINTAIN SELL TARGET: 260
* CLSA maintains SELL call on Biocon, target at Rs 260/sh
* Cash Flow Remained Negative For An Eighth Consecutive Year In FY21
* Operating Cash Flow Fell 24% YoY & Capex Intensity Remained High
* $2,200 Cr FY22 Capex Guidance Suggests Capex Intensity Will Remain High.
* A Slump In The Margin in Biologics Hurt Overall Profitability
* FY21 Report Lacks Mention Of Listing Plans For The Biologics Biz
JPMORGAN ON BIOCON : 24.06.2021
• Maintain Overweight, Target at Rs 415/share
* Flattish Fulphila share but Ogivri improving even as market volumes moderate MoM
* Fulphila volume trend in-line with the market in May
* Initial trends in Ogivri despite a tough market
* Biocon's market share improved in both segments
