Biocon inches up on plans of achieving $1 billion revenue in 3-years

21 Sep 2011 Evaluate

Biocon is currently trading at Rs 336.25, up by 1.10 points or 0.33% from its previous closing of Rs 335.15 on the BSE.

The scrip opened at Rs 335.70 and has touched a high and low of Rs 338.90 and Rs 335.50 respectively. So far 6208 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 464.60 on 19-Oct-2010 and a 52 week low of Rs 301.65 on 25-Feb-2011.

Last one week high and low of the scrip stood at Rs 339.85 and Rs 330.00 respectively. The current market cap of the company is Rs 6703.00 crore.

The promoters holding in the company stood at 60.92% while Institutions and Non-Institutions held 16.88% and 22.21% respectively.

India’s largest listed biotechnology firm, Biocon is targeting to achieve $1 billion revenues in upcoming three years. The company sees itself among the top 10 global biotechnological companies in the world. Its major emphasis is on the chronic diseases. The main emphasis is on diabetes, cancer and auto immune diseases. The company is also planning to list Syngene, its research services unit within the period of next 18 months. Syngene is India’s leading contract organization offering integrated drug and development service with capabilities in medicinal chemistry, biology, in vivo pharmacology, toxicology, customs synthetics, process R&D and formulation development for small and large molecules.

Last year the company had forayed into Malaysia and is in the process of setting up a bio manufacturing and R&D facility at Bio-Xcell, a biotechnology park and ecosystem in Iskandar Malaysia, Johor with an investment of about Rs 715 crore in the first phase.

Biocon is Asia’s leading R&D based Biotechnology Company. It produces anti-diabetic agents like Acarbose, Pioglitazone, Repaglinides and Rosiglitazone. In the biological segment it produces Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase and Monoclonal Antibodies. The drug major also produces mycophenolate mofetil, sirolimus and tacrolimus.

Biocon Share Price

316.15 -4.65 (-1.45%)
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