Biocon looks at tough path ahead
SummaryThe Q2 results are not too exciting. While revenue performance was decent, profitability was weaker
For Biocon Ltd, the path ahead is tough. The stock has underperformed the Nifty Pharma index sharply in CY22, declining by about 23% so far. One reason for the underperformance is the decision to acquire Viatris’ biosimilars business, which was announced in February. Analysts point out that the deal is expensive and the execution remains to be seen.