Biocon is one of the largest Biopharmaceutical company in India.Till recently company was mainly concentrating in statins which is a cholesterol lowering drug .But now company is seeking various growth opportunities in other segments and paying much attention for developing other biotechnology based branded formulations and contract research activities through its subsidiary Syngene and Clinical research through Clyngene.Branded formulation business is expected to grow about 30% in the coming year.Recently company launched 'INSUPEN' which is a reusable insulin pen.Company's agreement with foreign pharma companies for supply of products are also a positive step.Biocon's overseas operation in the countries like Malaysia ,Germany..etc are also moving in the right direction.Oral insulin is another important step which is going through clinical trials.Biocon's last quarter performance is a tad below expectations but the sharp cut in its share price makes it an attractive buy for long term investors .CMP is Rs.261/-
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