Biocon has posted its Q1 Fy 14 results where the company has seen a revenue growth of 22 per cent, which reflects the inherent strength of product portfolios. The biopharma business has grown 21 per cent Y-o-Y to Rs 439 crores. The branded formulations business has grown 17 per cent Y-o-Y to Rs 101 crores. In research services (Syngene and Clinigene) the company has posted 26 per cent Y-o-Y growth at Rs 155 crores. Group Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and PAT margins were at 24 per cent and 13 per cent respectively. R&D investments were posted at Rs 43 crores (10 per cent of biopharma sales).
Commenting on the results, Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon stated, “We are pleased to report a strong set of numbers for Q1 FY14. The new organisation structure has enabled us to deliver superior results with the core business performing strongly. Biocon’s insulins business continues to do well, riding on the back of an increased geographical footprint in the emerging markets. The India-focused branded formulations vertical as well as our research services continue to grow at a steady pace. Our research programmes are making good progress. I am excited about the upcoming launch of Alzumab, our second novel biologic. We look forward to bringing this first-in-class molecule for the treatment of psoriasis to the Indian market. The current fiscal will see us consolidate our various initiatives whilst we continue our investments in our biosimilars and novel molecules, to deliver a sustainable growth platform.”
Arun Chandavarkar, Chief Operating Officer, Biocon, said, “The sustained growth in our small molecules business reflects the robustness of our diversified and differentiated portfolio. Commercialisation of insulin in emerging markets continues to be a significant growth driver and we are on track with our capacity expansions to address these medium-term opportunities. We remain focused on developing our pipeline products that address significant global opportunities across our business segments to sustain our long-term growth.”
EP News Bureau – Mumbai
