This smallcap pharmaceutical stock has zoomed 62% thus far in December – Business Standard

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SI Reporter  |  Mumbai  Last Updated at December 23, 2021 14:42 IST
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Shares of Medicamen Biotech (MBL) hit a new high of Rs 948.95 after they rallied 13 per cent on the BSE in Thursday's intra-day deal. Thus far in the month of December, the stock of the smallcap pharmaceutical company has zoomed 62 per cent, ahead of the launch of domestic marketing of its Oncology products. In comparison, the S&P BSE Sensex was up 0.32 per cent so far in the current month. At 02:05 pm, MBL was up 11 per cent at Rs 928.55, as against 0.65 per cent rise in the benchmark index.
The company has nearly two-decade-long presence in the pharmaceuticals industry, and has a diversified clientele, comprising the government sector and other customers across India, Africa, and Latin America. MBL manufactures pharmaceutical formulations for the overseas and domestic Formulations are based on betalactum, non-betalactum, and cephalosporin drugs.document.write(““);googletag.cmd.push(function(){googletag.defineOutOfPageSlot(‘/6516239/outofpage_1x1_desktop’,’div-gpt-ad-1490771277198-0′).addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();});

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For the first half (April-September) of the current financial year 2021-22 (H1FY22), the company had posted a strong 57 per cent year on year (YoY) growth in its profit after tax (PAT) at Rs 8.37 crore on the back of healthy operational performance. Revenue during the period grew 6 per cent YoY at Rs 60.61 crore. Earnings before interest, taxes, depreciation, and amortization (ebitda) margins improved 425 bps to 21.17 per cent from 16.91 per cent in H1FY21.
While announcing Q2 results, on November 3, 2021, MBL said that the company's Haridwar unit – I has been granted WHO-GMP approval for tablets, liquid orals and ointments.
"The company is gearing up for ANDA filing for its oncology products. The company shall launch domestic marketing of its Oncology products w.e.f. January 2022 for which company has already appointed a team of 20 experienced professional," MBL said.
The Bhiwadi (Beta Lactum) unit has been upgraded. We are now prepared for the EU and Australian with our new products. In addition, a UN audit is scheduled for 2021-22, the company said in the financial year 2020-21 annual report.
Oncology is a rapidly evolving therapy field with a plethora of novel technologies in the development phase that have the potential to drastically alter the treatment paradigm. The oncology market was valued at USD 143 billion in 2019, and is expected to witness a CAGR of 12 per cent between 2020 and 2025. Due to the increasing number of cancer cases diagnosed each year around the world, the segment’s valuation is expected to skyrocket, MBL said.
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