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Technical Report on Biocon by Shyam Advisory

February 28, 2022

Biocon is engaged in the business of manufacture of biotechnology products and
research services.
Biologics (31% of sales)
Has one of the largest biosimilar pipelines comprising 28 molecules to be launched
over the next decade.
Only Indian company to get FDA approval for 3 biosimilar molecules
(Trastuzumab, Pegfilgrastim and Insulin Glargine)
Aspires to reach $1bn revenues by FY22.
Biologics division has been valued at $4.17bn as per the last fund raising round.
Biocon plans to list this division separately.
Research services (32% of sales)
Syngene, the research services arm of biocon, was listed as an independent
company in 2015.
Syngene is an integrated CDMO offering research, development and manufacturing
services for small and large molecules, antibody-drug conjugates and
Small molecule generic segment (33% of sales)
Biocon has launched 4 generic products in the US market, 3 of them are statin
products with market shares ranging from 15-20% and the last one is Tacrolimus.
Novel biologics
Biocon’s psoriasis drug Itolizumab received emergency use authorization from
CDSCO for treating moderate-to-severe COVID-19 patients who develop the
‘cytokine storm’. Their US partner Equillium got a positive remark from FDA for
Itolizumab and will initiate a global phase III trial.
Biocon’s US subsidiary Bicara therapeutics is developing novel immune-oncology
asset (BCA101), fusion monoclonal antibody and is currently undergoing Phase
1/1b trial.Biocon is developing novel insulin drugs focusing on oncology, diabetes,
auto-immune and immunology.
biocon 1 1 - Shyam Advisory
Technical View: BIOCON , daily chart is in to formation of classical symmetrical
Triangle RSI is in to buying zone. Said stock had formation breakout with strong
Bullish candle on daily chart Biocon structure looks positive.
Volume analysis: – 1 Day Delivery volume fell by -83.71% % over 5 day average,
However; 1 Month: Delivery volume increase by 8.9%, Hence; We recommend BUY
signal for this share Buying range of share is 394 for Target 420, Target 450, Use
Strict stop loss 365.
Moving Averages: – Biocon Ltd. is trading higher than 5 day, 20 day, 50 day, 100
day and 200 day moving averages.
5 Day 391.13 50 Day 373.48 200 Day 373.30
20 Day 390.55 100 Day 364.83
Shareholding pattern:-

biocon 2 1 - Shyam Advisory
The Promoter holdings 60.64 %. No change in Promoter holdings, No change in
Promoter pledged shares.
Key Ratio:-

biocon 3 1 - Shyam Advisory