On the back of strong growth in biologics, small molecules, research services and branded formulations, Biocon has reported another quarter of steady performance. The Bengaluru-based biotech firm is on track to file some of its biosimilars and generic formulations in developed markets later this year.

Biocon posted a 17 per cent rise in net profits to ₹147 crore in the quarter ended June 30, against ₹126 crore in the year-ago period.

Revenues came in at ₹952 crore, up 11 per cent (₹857 crore). “This signals another quarter of all-round performance,” said Kiran Mazumdar-Shaw, Chairperson and MD.

Going forward, Biocon said, its financial reporting will be based on Small Molecules, Biologics, Branded Formulations and Research Services.

The Small Molecules division saw a revenue growth of 9 per cent to ₹357 crore, led by sales to Indian customers servicing the US market and in Latin America, West Asia and Africa.

The Biologics business grew 53 per cent, largely driven by the sales of biosimilars in emerging markets.

New opportunities

Also, the submission of Pegfilgrastim, Biocon’s first biosimilar filing in the EU, opens up opportunities across different regions.

Biocon’s insulins business, driven by Glargine, is the fourth largest globally, and it recently got approval to do business in Japan. Shaw said sales in Japan has started kicking in but did not get into specifics.

Additionally, Biocon received regulatory approvals from Malaysia, for rh-Insulin and Glargine, which will enable commercialisation of these products.

Further, the company has chalked out new plans for its Biosimilars and Generic Formulations businesses. “We are on track for filing some of our Biosimilars and Generic Formulations in the developed markets later this year,” added Shaw.

Syngene, its contract research services business, reported a 28 per cent rise in Q1 net profit to ₹59.8 crore (₹46.6 crore). Revenues went up 17.5 per cent from ₹233.7 crore to ₹274.5 crore.

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