External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Biocon's Q4FY25 results surpassed expectations.</li><li>Revenue grew 12.8% YoY and 15.6% QoQ, primarily driven by gRevlimid values in the generics segment and the launch of GLP1 in the UK, while the biosimilars segment grew 4.5% YoY. Syngene (Research Services) reported growth of 11% on a YoY Basis.</li><li>The company’s gross margins improved by 60bps YoY and 220bps QoQ to 66.7%. EBITDA margins improved to 24.4%, up 100bps YoY and 470bps QoQ.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon's Q4FY25 results surpassed expectations.Revenue grew 12.8% YoY and 15.6% QoQ, primarily driven by gRevlimid values in the generics segment and the launch of GLP1 in the UK, while the biosimilars segment grew 4.5% YoY. Syngene (Research Services) reported growth of 11% on a YoY Basis.The company’s gross margins improved by 60bps YoY and 220bps QoQ to 66.7%. EBITDA margins improved to 24.4%, up 100bps YoY and 470bps QoQ.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon Ltd - Growth Driven by Generics; Expansion by New Launches

<ul><li>Biocon Limited is an innovation-led, global biopharmaceutical company dedicated to enhancing affordable access to complex therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.</li><li>The company has developed and commercialised novel biologics, biosimilars, complex small-molecule APIs in India and key global markets, and generic formulations in the US and Europe.</li><li>Additionally, it has a pipeline of promising novel assets in immunotherapy under development.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon Limited is an innovation-led, global biopharmaceutical company dedicated to enhancing affordable access to complex therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.The company has developed and commercialised novel biologics, biosimilars, complex small-molecule APIs in India and key global markets, and generic formulations in the US and Europe.Additionally, it has a pipeline of promising novel assets in immunotherapy under development.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week: Biocon Ltd - 03rd May, 2025

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a> achieved 178% YoY and 21% QoQ revenue growth to KRW1,064B in 4Q24, driven by rapid growth of new products such as Remsima SC, Yuflyma, and Steqeyma.</li>
<li>Celltrion guided for 2025 revenue of KRW5.0T, up 43% YoY. Celltrion is targeting COGS ratio in 20%s by 4Q25. Operating profit margin is expected to recover to 30%s in 2025.  </li>
<li>New launches, COGS improvement, and cost efficiency will drive 2025 growth. This year, Celltrion received European approval for four biosimilars and three biosimilars are under regulatory review in the U.S.</li>
</ul>



Celltrion Inc (068270 KS) achieved 178% YoY and 21% QoQ revenue growth to KRW1,064B in 4Q24, driven by rapid growth of new products such as Remsima SC, Yuflyma, and Steqeyma.
Celltrion guided for 2025 revenue of KRW5.0T, up 43% YoY. Celltrion is targeting COGS ratio in 20%s by 4Q25. Operating profit margin is expected to recover to 30%s in 2025.  
New launches, COGS improvement, and cost efficiency will drive 2025 growth. This year, Celltrion received European approval for four biosimilars and three biosimilars are under regulatory review in the U.S.


Celltrion (068270 KS): Record High Sales in 4Q; Sequentially Weaker Profit; Solid Outlook for 2025

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Biocon (BIOS) has received ‘Voluntary Action Indicated’ (VAI) status for its Malaysian site.</li><li>With this, BIOS now has all critical sites for biosimilars under USFDA compliance, improving its business prospects in the US market.</li><li>Regulatory compliance at the Malaysian site paves the way for commercial opportunities for B-Aspart.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon (BIOS) has received ‘Voluntary Action Indicated’ (VAI) status for its Malaysian site.With this, BIOS now has all critical sites for biosimilars under USFDA compliance, improving its business prospects in the US market.Regulatory compliance at the Malaysian site paves the way for commercial opportunities for B-Aspart.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon - ‘VAI’ Status for Malaysian Site Provides Regulatory Boost

<ul>
<li>
<a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a> achieved 31% YoY revenue growth to KRW882B in 3Q24, driven by the rapid growth of new products such as Remsima SC, Yuflyma, and Vegzelma.</li>
<li>The company is maintaining 2024 sales guidance of KRW3.5T (up 60% YoY), which indicates sequentially improved quarterly sales in 4Q24. Margin improvement is expected to continue.</li>
<li>In August, Celltrion received EU approval for Steqeyma, biosimilar for autoimmune disease treatment Stelara. Celltrion aims to commercialize 22 biosimilars by 2030, thereby targeting a pipeline market size of $182B.</li>
</ul>



Celltrion Inc (068270 KS) achieved 31% YoY revenue growth to KRW882B in 3Q24, driven by the rapid growth of new products such as Remsima SC, Yuflyma, and Vegzelma.
The company is maintaining 2024 sales guidance of KRW3.5T (up 60% YoY), which indicates sequentially improved quarterly sales in 4Q24. Margin improvement is expected to continue.
In August, Celltrion received EU approval for Steqeyma, biosimilar for autoimmune disease treatment Stelara. Celltrion aims to commercialize 22 biosimilars by 2030, thereby targeting a pipeline market size of $182B.


Celltrion Inc (068270 KS): Record High Sales in 3Q; Pipeline Progress Entails Long-Term Growth

India

Biocon Ltd., is an integrated biotechnology enterprise with a presence in biopharmaceuticals, enzymes, custom research and clinical research. The Company's pharmaceutical products include statins, immunosuppressants and anti-diabetic drugs. Biocon also manufactures specialty enzymes and new enzyme applications besides providing clinical and custom research services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Biocon Ltd (BIOS IN)

Biocon Ltd - Growth Driven by Generics; Expansion by New Launches

The company’s gross margins improved by 60bps YoY and 220bps QoQ to 66.7%. EBITDA margins improved to 24.4%, up 100bps YoY and 470bps QoQ.

Axis Direct

Pick of the Week: Biocon Ltd - 03rd May, 2025

The company has developed and commercialised novel biologics, biosimilars, complex small-molecule APIs in India and key global markets, and generic...

Axis Direct

Celltrion (068270 KS): Record High Sales in 4Q; Sequentially Weaker Profit; Solid Outlook for 2025

Celltrion reported 178% revenue growth in 4Q24. The company guided for 2025 revenue of KRW5.0T, up 43% YoY. Operating profit margin is expected to...

Tina Banerjee

Biocon - ‘VAI’ Status for Malaysian Site Provides Regulatory Boost

Biocon (BIOS) has received ‘Voluntary Action Indicated’ (VAI) status for its Malaysian site. With this, BIOS now has all critical sites for...

Motilal Oswal

Celltrion Inc (068270 KS): Record High Sales in 3Q; Pipeline Progress Entails Long-Term Growth

Celltrion has announced dividend of KRW750 per share and one bonus shares for every 20 shares held. The record date for dividend payment and bonus...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Biocon Ltd - Growth Driven by Generics; Expansion by New Launches

The company’s gross margins improved by 60bps YoY and 220bps QoQ to 66.7%. EBITDA margins improved to 24.4%, up 100bps YoY and 470bps QoQ.

Axis Direct

Pick of the Week: Biocon Ltd - 03rd May, 2025

The company has developed and commercialised novel biologics, biosimilars, complex small-molecule APIs in India and key global markets, and generic...

Axis Direct

Celltrion (068270 KS): Record High Sales in 4Q; Sequentially Weaker Profit; Solid Outlook for 2025

​Celltrion reported 178% revenue growth in 4Q24. The company guided for 2025 revenue of KRW5.0T, up 43% YoY. Operating profit margin is expected to...

Tina Banerjee

Biocon - ‘VAI’ Status for Malaysian Site Provides Regulatory Boost

Biocon (BIOS) has received ‘Voluntary Action Indicated’ (VAI) status for its Malaysian site. With this, BIOS now has all critical sites for...

Motilal Oswal

Celltrion Inc (068270 KS): Record High Sales in 3Q; Pipeline Progress Entails Long-Term Growth

Celltrion has announced dividend of KRW750 per share and one bonus shares for every 20 shares held. The record date for dividend payment and bonus...

Tina Banerjee

Celltrion reported 178% revenue growth in 4Q24. The company guided for 2025 revenue of KRW5.0T, up 43% YoY. Operating profit margin is expected to...