Biosimilar launches in emerging markets to drive Biocon earnings further

More launches in biosimilars and Syngene may drive earnings further, say analysts

Biocon’s March quarter (Q4) revenues at Rs 1,528 crore (up 31 per cent year-on-year, or YoY), though may have missed Bloomberg consensus estimates of Rs 1604 crore however  operating performance remained strong and net profit at Rs 214 grew 64 per cent year-on year ahead of analyst estimates of Rs 206 crore  

Biocon’s core operating margins expanded 800 basis points YoY and it expects to sustain margins at the 34 per cent level. However, at Rs 619.8 apiece, stock price closed little changed .

Biocon’s performance continues to be driven by growth in its biologics and research services business, while