Biocon stock draws support after EMA recommends Pertuzumab biosimilar?

Published on 09/30/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

An EMA recommendation for Biocon's Pertuzumab biosimilar supports the latest analyst case. Q1 FY27 biosimilars revenue rose 16.00 percent to INR 28.55 billion.

Biocon, INE376G01013, Illustration mit AI erstellt.

Biocon (ISIN INE376G01013) is drawing analyst support after a positive European regulatory step for its Pertuzumab biosimilar, while Q1 FY27 biosimilars revenue reached INR 28.55 billion. The event gives the stock a concrete product milestone to weigh against weaker services revenue and uneven quarterly earnings.

EMA recommendation advances pipeline

According to Business Standard on September 21, 2026, Biocon's Pertuzumab biosimilar received a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use. The product, branded Pebrilzo, is intended for HER2-positive breast cancer treatment, and the European Commission will make the final marketing authorization decision.

The same report said Biocon shares reached INR 395.10 intraday on September 21, 2026, a gain of 2.60 percent, after the regulatory update. That reaction links the pipeline event to a measurable market response, although the regulatory process still had a final decision ahead at the time of the report.

Biosimilars offset services pressure

StockFin reported that Q1 FY27 biosimilars revenue grew 16.00 percent year over year to INR 28.55 billion. Generics EBITDA margin reached 21.00 percent, supported by a 250-basis-point expansion, while services revenue declined 16.00 percent year over year to INR 7.36 billion.

For the quarter ended June 30, 2026, revenue was INR 43.36 billion, down 4.00 percent from the preceding quarter, and net profit was INR 1.37 billion. The mix matters: biosimilars delivered quantified growth, but the services decline kept consolidated revenue below the March 2026 quarter's INR 45.17 billion.

Analyst target sets a test

Business Standard reported that Axis Securities named Biocon its Pick of the Week in a report dated September 18, 2026, with a INR 424.00 target for a 6-9 month horizon. The report cited Malaysia insulin capacity expansion, product launches and lower interest burdens as drivers for its view.

Trendlyne identifies Biocon's NSE ticker as BIOCON and confirms the ISIN, while its September 21, 2026 page records the Axis Direct target at INR 424.00. The target is now measured against execution in biosimilars, generics and insulin rather than against a single regulatory announcement.

Market value and investor frame

Biocon's market capitalization stood at INR 511.7 billion on September 30, 2026. Its 52-week range was INR 337.95 to INR 447.00, placing the current valuation context between a defined yearly low and high without relying on a single day's price move.

Biocon describes itself as a global biopharmaceutical company serving patients in more than 120 countries, spanning drug discovery through drug delivery, according to its investor-relations page. For investors, the key comparison is clear: Q1 FY27 biosimilars growth of 16.00 percent stood against a 16.00 percent services revenue decline, making product mix and regulatory execution central to the next earnings cycle.