BIOCON / Q1-FY24 / claim-ledger

Audit the questions that mattered.

Biocon · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ1-FY24 · 2023-08-09Back to quarter ↗

Questions audited

Answered directly

75%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Damayanti Kerai · HSBC

partial

Pricing environment for biosimilars beyond Fulphila, e.g., Semglee, Ogivri.

The pricing that we're seeing in discount trends, they've not been uniform... What we're seeing on the other products, we are seeing very active growth and good growth in those other channels, like Semglee, trastuzumab, et cetera.

Damayanti Kerai · HSBC

direct

Pricing pressure on Semglee insulin glargine.

As we're seeing it right now, no, there's not that pressure... the mix continues to be in a positive manner that we're seeing with our insulin glargine and Semglee.

Damayanti Kerai · HSBC

evasive

Hulio launch update: payer response and market share outlook.

These are very, very early days, and the payers' landscape is still developing... we're in active discussions with all the payers as this market continues to develop.

Harith Ahamed · Avendus Spark

direct

Reason for sharp decline in core EBITDA margins from 39% to 28%.

We've had a situation with one product where we've had these managed care customer, where the legacy Viatris contracts that we had, had a higher rebate... That was in the region of around $15 million.

Harith Ahamed · Avendus Spark

direct

Breakup of Biocon Biologics revenues between regulated and emerging markets.

It's 75% advanced markets, 25% emerging markets.

Harith Ahamed · Avendus Spark

evasive

Nature and timing of INR 167 crore licensing income.

We saw some of that happening this quarter, and that was the recognition of that INR 167 that you talked about. You will see this happen in a particular quarter. May not necessarily happen in every quarter.

Surya Patra · PhillipCapital India

direct

Whether the $15 million pegfilgrastim charge is recurring and if similar charges may hit other products.

This is about the past... we've reset these contracts. Going forward, that's why you will not see those things come in... We are not aware of any charge at this point on any other product.

Surya Patra · PhillipCapital India

direct

Clarification on market share metric: prescriptions written vs. filled.

I think the 12% is the prescriptions filled and the NRXs are prescriptions written. 15% is the trending towards how much extra is being written.

Neha Manpuria · Bank of America

direct

Confirmation of mid-30s core margin guidance for FY24 despite one-off rebate.

Yes.

Neha Manpuria · Bank of America

partial

Timeline for clarity on Hulio volume allocation and market opportunity.

This decision-making will happen over the course of this calendar year... you will see most of these things really consolidate towards 2025.

Shyam Srinivasan · Goldman Sachs

direct

Sequential run rate for biosimilar segment and Semglee market share aspiration.

We're still tracking to that mid-teens that we had said, Shyam. I don't think we are moving from that just yet.

Shyam Srinivasan · Goldman Sachs

direct

Disaggregation of generics growth into API vs. formulations.

Formulations business actually touched INR 200 crore this quarter. Out of INR 700 crore, INR 200 crore is formulation, and a little over INR 400 crore is API.