Research services delivers 20 per cent growth
In Q3 FY15, Biocon has posted revenues at Rs 779 crore, PAT at Rs 91 crore. The research services has delivered a 20 per cent growth
Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon stated, “A significant ramp up in R&D expenses this quarter reflects advances made in multiple R&D programmes. Two programmes viz. trastuzumab and glargine are progressing well in global phase III clinical trials, while two other biosimilar programmes have entered the clinical stage globally. This clearly positions Biocon as having one of the largest portfolio of Biosimilars in the clinic. Our research services arm, Syngene, has reported the best quarter thus far at Rs 220 crore which bodes well as the company prepares for a public listing.”
She further said, “I am also pleased to announce the expansion of Biocon’s Board with the induction of two new distinguished board members: Dr Jeremy Levin, former CEO, TEVA and Prof Vijay Kuchroo, renowned immunologist and Director of the Evergrande Centre, Harvard Medical School. Biocon continues to invest in its uniquely differentiated Biosimilars portfolio, which straddles both insulins and monoclonal antibodies. We are confident this will deliver short-term growth in the emerging markets and drive long-term value creation across global markets.”
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