Low PE & High ROE Stock: This bio-pharma company signs commercialization agreement with Juno Pharmaceuticals in Canada!

The shares of the company have a PE of 11.03x and an ROE of 31.94 per cent with multibagger returns of 375 per cent in a decade.

Biocon Limited (BSE scrip code: 532523, NSE scrip code: BIOCON), an innovation-led global biopharmaceutical company, announced the signing of a partnership agreement with Juno Pharmaceuticals, a speciality pharmaceutical company in Canada, for the commercialization of its vertically integrated, complex formulation, Liraglutide, a drug-device combination for the treatment and management of Type 2 diabetes and obesity.

Under the terms of this agreement, Biocon will be responsible for obtaining regulatory approval for Liraglutide, and thereafter, for the manufacture and supply of the product in the Canadian market.

Juno Pharmaceuticals is one of the fastest-growing pharmaceutical companies in Canada that specializes in high-value generic, complex, biosimilar and other medicines of scarcity, to advance the quality of healthcare in the region. They are the country’s largest Canadian-owned manufacturers of injectable medications, with a focus on supplying critical hospital medicines, in addition to medicines sold at retail pharmacies. Juno's mission is to ensure that patients have access to cost-effective and efficacious treatments.

On Friday, shares of Biocon Limited gained 0.40 per cent to Rs 264.65 per share with an intraday high of Rs 265.45 and an intraday low of Rs 262.50. The company has a market cap of over Rs 31,000 crore and is expected to give a good quarter (Q2FY23).

The shares of the company have a PE of 11.03x and an ROE of 31.94 per cent with multibagger returns of 375 per cent in a decade. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.