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    BIOCON   INE376G01013

BIOCON LIMITED

(BIOCON)
  Report
Delayed Quote. Delayed NSE India Stock Exchange - 06/21 07:14:08 am
405.75 INR   +1.70%
05/07BIOCONá : Insulin Glargine Biosimilar Insight, 2020 | Report by DelveInsight
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04/29BIOCONá : Names New CFO
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04/28BIOCONá : Net Profit Surges 105% in March Quarter
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Indian pharma firms go local seeking to end reliance on China

02/23/2021 | 06:42am EDT
FILE PHOTO: The logo of Sun Pharma on the facade of its corporate office in Mumbai

NEW DELHI (Reuters) - Indian drug companies are looking to local makers of so-called active pharmaceutical ingredients (API) or trying to make them in-house in a bid to end their reliance on China as ties between the two countries soured after a deadly border clash last June.

Though India is known as the pharmacy of the world for its massive production capacities of both generic drugs and vaccines, China accounted for half of its API needs in 2019 from nearly nothing three decades ago, industry data shows.

Executives at India's Cadila Healthcare, Cipla, Sun Pharmaceutical and ?Biocon said on Tuesday they were aggressively working on reducing the dependence on the richer rival for raw materials.

Disruption to supplies from China due to the COVID-19 pandemic was also a major factor, they said, as early last year many of them had to scramble for ingredients to make important drugs sold worldwide.

"Because of the anti-China sentiment ... most of the companies are working towards de-risking themselves in terms of making it clear that their supply chain linkages with China are limited," Gaurav Suchak, supply head of Cadila, told the BioAsia conference organised by the southern state of Telangana.

"For the critical API molecules, the idea is to go for a backward integration where you are in control of that pie which is going to make the most impact on your business, and also to make sure that the entire value chain is secure."

Companies are also eyeing reliable local vendors who can promise consistency and competitive prices, he said.

Cipla's supply chief Swapn Malpani said it had launched an "API re-imagination" programme to possibly expand its own manufacturing capacities using recent government incentives such as production subsidies, apart from working with local suppliers.

Biocon's supply head Prasad Deshpande said the company had a target on "how much percent of revenue is independent of China".

"We are happy to say that by the last quarter, we were almost 50% completely independent of China," Deshpande said. "That does not mean we will not source from China, but we are not dependent on China anymore."

But he also said India would have to improve its infrastructure and accelerate approval processes to take on the scale and speed of China.

(Reporting by Krishna N. Das; editing by David Evans)

By Krishna N. Das


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BIOCON LIMITED 1.70% 405.75 Delayed Quote.-14.28%
CADILA HEALTHCARE LIMITED 1.47% 629.55 Delayed Quote.30.13%
CIPLA LIMITED -0.08% 960.15 Delayed Quote.17.19%
SUN PHARMACEUTICAL INDUSTRIES LTD. 0.43% 671.35 Delayed Quote.12.86%
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Financials
Sales 2021 73 410 M 990 M 990 M
Net income 2021 7 332 M 98,9 M 98,9 M
Net Debt 2021 25 716 M 347 M 347 M
P/E ratio 2021 67,2x
Yield 2021 0,27%
Capitalization 481 B 6 484 M 6 488 M
EV / Sales 2021 6,90x
EV / Sales 2022 5,84x
Nbr of Employees 12 609
Free-Float 33,3%
Chart BIOCON LIMITED
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Biocon Limited Technical Analysis Chart | BIOCON | INE376G01013 | MarketScreener
Technical analysis trends BIOCON LIMITED
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TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 395,42 INR
Last Close Price 405,75 INR
Spread / Highest target 19,5%
Spread / Average Target -2,55%
Spread / Lowest Target -35,9%
EPS Revisions
Managers and Directors
NameTitle
Siddharth Mittal Chief Executive Officer, Director & MD
Anupam Jindal Chief Financial Officer
Kiran Mazumdar-Shaw Executive Chairman
Manoj Kumar Pananchukunnath Head-Regulatory Sciences, Research & Development
Sandeep Nilkanth Athalye Head-Clinical Development & Medical Affairs
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