Dr Kiran Mazumdar-Shaw, CMD, Biocon
According to Biocon, the biopharma business was impacted this quarter by various external factors including the ongoing geo-political conflicts in the MENA region, affecting the growth of the business.
Commenting on the occasion, Dr Kiran Mazumdar-Shaw, CMD, Biocon, stated, "Our revenue growth this quarter has been muted. Our business performance reflects the challenges that we are temporarily facing in some of our key markets especially in the Middle East. We are working towards diversifying our regional dependencies to diminish the impact of such externalities. However, we have sustained our operating margins and profits despite increase in costs."
"Our business profitability has remained intact indicating the benefits of portfolio optimization. Our development pipeline across biosimilars and novel candidates continues to progress well. We remain committed towards improving our performance in the coming quarters," she continued.
The company also, this quarter, filed its first ANDAs, targeting the US generics market.
"This effort is part of our communicated strategy to move up the pharma value chain to enter finished dosages with generic formulations. We continue working towards further optimization of our product portfolio in the small molecules vertical, with a clear focus on profitable growth," said Biocon's press statement.