Biosimilar off-take, lower R&D spending drive earnings

Company
17 May 2024
5 Min read 
  • Biocon's 4QFY24 results update includes changes in estimates, target price, and rating.
  •  The company's earnings were driven by biosimilar off-take and reduced R&D spending.
  •  Efforts are being made to improve business outlook across segments.
  •  The company's financials and valuations for FY24 and estimates for FY25 and FY26 are provided.
  •  The company's performance in biosimilars was better than expected in 4QFY24.
  •  The company's earnings estimates were cut for FY25 and FY26 due to various factors.
  •  The stock is rated as "Neutral" with a target price of INR280.
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