As usual, in the defensive batch of the last line of Indian markets, the company / midcap disappointed the markets bang in the middle of the bull run to underline its Capital market go to strategy! Her protestations of 28% growth in research services notwithstanding the market too it in disfavor like Axis and continued on even as Airtel and Hindustan Unilever, ITC wait for the bulls to subside.

Biocon’s nine-month revenues driven by growth in Branded Formulations, Emerging Markets and Research Services

Revenues at Rs 1,511 Crores; EBITDA at Rs 425 Crores; PAT at Rs 241 Crores

That's $300 mln in Topline, $85 mln EBITDA and $48mln in Profits 

We are not clear if periodic data is available on variability of Licensing Income which flatlined the earnings engine accordng to the management speak again

New research in Psriasis antibody research and INSUpen launch again does not reflect in material positive sales forecasts yet but the company's branded formulations grew 40% on the year in December Optimer is introducing a new CDI/CDAD drug in Europe on new licenses in Dec 2011 thru Asteller Pharma

Profit growth without licensing income at 30% should have been great for the comppany's prospects but it remains vary of the Capital Markets

The company subscribes to the 22% CAGR view on Indian Pharma in branded drugs to $55 bln by 2020

Apart from its new leadership efforts in Diabetology, it is already the new #3 in immunology and it is backing its Atorvastatin drug in Cardio (grown at 55%) Oncology is the second most strongest suit of the company aith BIOMAb and Ataraxene acceptance

 In comprehensive care and Nephrology, the company seems to be in the specialised drugs segment with niche brands at best

 

 

 

Posted via email from The India Investment Post