Biocon closes FY 2012-13 at Rs 2,538 crore

Indian's leading biotech group Biocon closes fiscal 2013 on a very strong note. "The key contributors to growth this fis cal have been Research Services, Branded Formulations and our growing biosimilar business, led by generic insulins. Biocon's insulin franchise continues to garner market share across India and emerging markets and now accounts for more than 10 percent of our sales. This quarter saw us enhance our partnership with Mylan through the re-licensing of our portfolio of generic insulin analogs. The partnership with Mylan endorses the intrinsic value of this asset and significantly reduces our burden of development costs involved in global commercialization," said chairman and managing director, Dr Kiran Mazumdar-Shaw.

Click here to read about Biocon's partnership with Mylan for insulin analogs

Highlights:

FY2013 revenues at Rs 2,538 crore; EBITDA at Rs 596 crore; PAT at Rs 509 crore

• Biopharma business records 10 percent YoY to Rs 1,523 crore;
• Branded formulations registers 34 percent YoY to Rs 347 crore;
• Research services (Syngene and Clinigene) sees 36 percent YoY to Rs 557 crore;
• For FY13, the Group EBITDA and PAT margins were at 23 percent and 20 percent respectively
• Biocon receive d US$ 20 million as an upfront, for further development

Performance financial highlights:

• Q4 FY13 revenues touched Rs 649 crore and R&D expenses were Rs 43 crore (11 percent of biopharma sales) EBITDA: Rs 124 crore (EBITDA Margin-19 percent) PAT at Rs 249 crore (PAT Margin-38 percent)

Sales breakup for Q4:

• Biopharma : Rs 380 crore
• Research services: Rs 166 crore
• Branded formulations: Rs 84 crore