By reading Natco’s and Beta Drug’s con calls, it seems that the established doctor and hospital network is another moat for Beta Drugs…
A question was asked regarding Natco losing market share in the oncology segment. The answer given was high competition and lack of reach in the doctor-hospital network for oncology; (Nov 2022 concall; Natco’s quarterly oncology revenues were ~55cr)
Beta Drugs, on the other side, seems to have a presence in most corporate hospitals and is building a presence in railway hospitals (as per May 2023 concall)
But this might only be a temporary moat as the CEO of Natco is confident of regaining market share in the oncology segment via acquisitions…
Also, till what I understood the CDMO oncology business is facing headwinds, that’s why companies such as Shilpa Medicare are planning to diversify into other segments; this creates space for Beta Drugs to grow
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