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

Buzzing stocks
SI Reporter  |  Mumbai  Last Updated at December 23, 2021 14:42 IST

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();});


var banHeight=$(“.article-middle-banner iframe”).height();if(banHeight<=1){$(".article-middle-banner").height(0);$(".article-middle-banner").next().next().remove();}displayConBanner=1;
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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor
Copyrights © 2021 Business Standard Private Ltd. All rights reserved.
Business Standard
Upgrade To Premium Services
Business Standard is happy to inform you of the launch of “Business Standard Premium Services”
As a premium subscriber you get an across device unfettered access to a range of services which include:
Business Standard
Premium Services
In Partnership with Fis Logo
Dear Guest,
Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard


Leave a Reply

Your email address will not be published.