Speculation that two international entities might be eyeing a stake in Biocon,and the kind of valuation at which Biocon is trading now... it may get substantially high premium over its current market price if at all the deal gets struck.
Fundamentally also Biocon looks attractive given its pipe line of 10-12 new products to be launched this year.
Mid-size pharma stocks have seen buying interest since the $3.2 billion Sun Pharma-Ranbaxy deal announced earlier this month.
Biocon has several innovations to its credit like INSUGEN and BASALOG. India's first indigenously produced monoclonal antibody BioMAb-EGFR for head and neck cancer is also the innovation of Biocon.