Last Updated on Dec 23, 2021 by Aradhana Gotur
On Thursday, smallcap pharma stock Medicamen Biotech (MBL) hit a new high of Rs. 948.95 on rallying 13% on the BSE. So far in December, the stock has surged 62%, ahead of beginning domestic marketing of its Oncology products. Compared to the MBL, Sensex was up 0.32% thus far in the current month.
A quickly evolving therapy field, Oncology has a variety of novel technologies in the development phase that can drastically alter the treatment paradigm. In 2019, the oncology market was valued at $ 143 bn. It is expected to grow at a CAGR of 12% between 2020 and 2025.
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About Medicamen Biotech
MBL has been in the industry for nearly two decades. The company manufactures pharmaceutical formulations—based on betalactum, non-betalactum, and cephalosporin drugs—for domestic and overseas markets. Medicamen Biotech has a diversified clientele, consisting of the public sector and other customers across India, Latin America, and Africa.
In H1 FY 2022, MBL had posted a 57% y-o-y growth in its profit after tax (PAT), which stood at Rs. 8.37 cr. The increase was attributed to healthy operational performance. Further, revenue zoomed 6% y-o-y at Rs. 60.61 cr, and EBITDA margins increased to 21.17% from 16.91%.
Big plans ahead
MBL is preparing for ANDA filing for its oncology products, whose domestic marketing will start from January 2022. A team of 20 experienced professionals will be driving the campaign.
The firm’s Bhiwadi (Beta Lactum) unit has been upgraded, and it is now ready for the EU and Australian markets with new products. The company also awaits a UN audit scheduled for 2021-22.