Biocon is an integrated biotechnology enterprise focused on the development of biopharma-ceuticals. With successful initiatives in drug discovery and development, bioprocessing and global marketing, it deliver products and solutions to partners and customers in over 50 countries. Biocon offers every solution to companies worldwide is defined by a "value differential" that is provided by outstanding scientific knowledge pool, proprietary technologies and world-class facilities.

It's proven capability to research, manufacture and market high value biopharmaceuticals is an endorsement of ability to meet global benchmarks. With 120 million diabetics worldwide and 30 million in India itself, Diabetes is emerging as an important area for disease research. Biocon through its subsidiary, Clinigene, has embarked on a longitudinal research program in Type II Diabetes to pursue novel biomarkers and new drug targets.

Products & services-

Company's APIs find favour with leading generics and branded companies primarily because it's products are made to the highest manufacturing standards, without infringing on patents. Today, Biocon have a vantage position in the world market for generic statins. Drug Master Files (DMFs) have been submitted in several countries for its statin portfolio, oral anti-diabetics and immunosuppressants.

Company is now actively working towards entering the exciting field of recombinant biologicals (therapeutic proteins) like insulin, monoclonal antibodies, EPO, etc. Biocon's enzymes cater to international markets in baking, fruit juice, wine, grain processing, textile, pulp and paper and many other industrial applications. With strengths in solid-state fermentation, submerged fermentation and own-patented PlaFractor™ technology, company produce an impressive range of enzymes, from fungi and bacteria.

Biopharmaceuticals---- Company manufacture a wide spectrum of biopharmaceuticals ranging from small molecules to biologicals and dosage forms.

Enzymes---- The first enzyme company globally to receive the ISO 9001 accreditation, Biocon manufactures and market a broad range of industrial enzymes, food additives and process aids.

Clinical research----Clinigene, a Biocon subsidiary, conducts clinical trials and longitudinal research to discover novel biomarkers.

Services- Syngene, a Biocon subsidiary, leverages its synthetic chemistry skills to carry out custom research in early stage drug discovery and development.

Valuations:

At current market price, stock is trading at 22.36 P/E multiple of its FY2010 estimated earnings. We recommend investors to buy "Biocon Ltd" with long term investment prospective.