HSBC has maintained its reduce rating on Biocon, lowering the share price target to ₹300, implying a 7.8% downside from the current market price (CMP). A positive court ruling positions Amgen well for the imminent launch of its biosimilar for Eylea in the US. However, Biocon’s own launch of Yesafili (biosimilar for Eylea) is delayed due to litigation hurdles.
The timely launch of Yesafili will be crucial for Biocon, as the company faces multiple operational and balance sheet challenges in the near term.
Currently, Biocon’s stock is trading at ₹325.30.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.
