Biocon Q1 Review - Multiple Headwinds Affect Earnings: Motilal Oswal

Biocon Q1 Review - Multiple Headwinds Affect Earnings: Motilal Oswal
<div class="paragraphs"><p>Biosimilars manufactured by Biocon Ltd. (Source: Company website)</p></div>
Biosimilars manufactured by Biocon Ltd. (Source: Company website)

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Motilal Oswal Report

Biocon Ltd. delivered a lower than expected Q1 FY23, led by reduced traction in the generics segment, stable performance in biosimilars, and higher operational cost.

Biocon continues to build its biosimilars pipeline on its own and via the partnership model, as well as launch molecules in the generics space.

We cut our FY23/FY24 earnings per share estimate by 20%/6%, factoring in:

  1. a delay in commercialisation of b-Aspart,

  2. shutdown related expenses in the generics segment,

  3. higher research and development spends for biosimilars,

  4. and the ongoing price erosion in the base business.

Click on the attachment to read the full report:

Motilal Oswal Biocon Q1FY23 Result Update.pdf


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