Biocon posts strong growth rides
With an impressive growth rate of 26
percent in FY 2010-11, Biocon has been able to leverage new market
opportunities and deliver multi-sectoral growth
|Revenue 1483 crore
20th KM Hosur Road, Electronic City, Bangalore-560100
Registering a total revenue of
1,483 crore in
FY 2010-11 as compared to
1,180 crore in the FY 2009-10, Biocon
recorded an impressive growth of 25.68 percent. The company has
therefore secured its number one position in the BioSpectrum-ABLE Top
20 Survey 2011.
The company continued its forward march, on the back of strong growth
in the sales of immunosuppressants, statins and the branded
formulations. Products that gained share in the portfolio, include
Atorvastatin and Rosuvastatin. Biocon's immunosuppressants portfolio
also grew by 35 percent.
The company launched its biosimilar insulin in numerous emerging
markets within South America, North Africa and East Asia. Presently,
Biocon is in talks with Biotech Corp to manufacture biopharma products
and formulations in Malaysia. The company's multiple collaborations
with Mylan, Optimer, Amylin and Vaccinex are making steady progress.
Its investment in a biotech start-up, IATRICa continues to look
During the FY 2010-11, the company divested its stake in its German
subsidiary, AxiCorp GmbH, to the existing group of promoter
shareholders. AxiCorp was the licensee for Biocon´s biosimilar
insulin and glargine in Germany and had the sole responsibility for
commercializing these products. Biocon entered into a global alliance
with Pfizer in October 2010 for commercializing biosimilar insulin and
The oncology division of Biocon posted a strong 41 percent growth this
year with in-licensed brand, Abraxane, contributing significantly.
Evertor, the first global generic of everolimus, has been witnessing a
strong ramp since its launch in January 2011. Biocon's pipeline of
innovative and biosimilar molecules as well as marketing partnerships
will fuel its expansion in India and in other markets in 2011.
Dr Kiran Mazumdar-Shaw, CMD, Biocon, said, “FY11 has delivered
strong multi-sectoral growth. Emerging markets have realized
significant and sustained growth for our APIs, while our branded
formulations have scripted business success in the India market.
Licensing income from Pfizer and others has contributed materially to
profit generation during this fiscal.”
The R&D pipeline of Biocon has achieved significant milestones
spearheaded by a key IND filing with the US FDA for its oral insulin
program, IN105. Biocon's coveted T1h program, a novel anti-cd6
targeting monoclonal antibody, is also entering phase III clinical
trials for psoriasis.
Biocon's BVX-20 is a novel humanized monoclonal antibody that binds to
CD20, a protein located on both normal and malignant B-cells. The
company has submitted an application to the regulator for phase I
trials of the same. The phase I clinical trial is expected to be
initiated in Q1 of FY 2012. To support its expanding business
operations, the company is looking forward to increase its employee
strength by around 1,000 in the next fiscal year.