Biocon’s earnings surge in Q1 FY16

Revenue up by 15% at Rs 857 crore, net profit up by 23% at Rs 126 crore

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Dr Kiran Mazumdar-Shaw, CMD, Biocon

Biocon announced that it has delivered a strong consolidated financial performance for Q1 FY16.

Commenting on the quarterly performance and highlights, Chairperson and Managing Director, Kiran Mazumdar-Shaw stated:

"The strong performance this quarter reflects the overall growth of our business backed by a combination of product sales and monetization of R&D assets through licensing. Our Biosimilars strategy is playing out well with five programs in phase 3 clinical development. During the quarter we successfully licensed biosimilar Trastuzumab in key emerging markets. Our Insulins business was boosted with the launch of insulin Glargine in Mexico and Colombia. Our focus on key brands in Branded Formulations has begun to translate into a better quality of earnings."

Highlights:

Ø Dr Narendra Chirmule, appointed as Head of Biocon's R&D.

 

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