Biocon net up 3-fold on biopharma sales

Our Bureau Bangalore | Updated on November 17, 2017

Strong sales growth of Biocon's biopharmaceuticals and formulations pushed up its standalone Q3 net profit three-fold to Rs 211 crore year-on-year. Net sales improved 65 per cent y-o-y to Rs 510 crore.

Consolidated PAT grew 24 per cent y-o-y to Rs 101 crore; income of Rs 738 crore was 15 per cent higher. Nine-month PAT grew 25 per cent to Rs 267 crore and revenue 21 per cent to Rs 2,097 crore.

On Thursday, the Biocon scrip ended down 2.05 per cent at Rs 369.75 on the BSE.

Ms Kiran Mazumdar-Shaw, Chairman and Managing Director, said, “Biocon has delivered the highest ever PAT this quarter and has crossed the Rs 100-crore mark. The operating margin has also increased to 24 per cent . This marks an important growth milestone, which will enable us to invest in advancing our research programmes and expand our manufacturing and marketing partnerships.”

Biopharma saw 22 per cent growth on strong sales of immunosuppressants, statins and branded formulations. Immunosuppressants given to organ transplant patients — mycophenolate mofetil and tacrolimus – did well in sales to the US and Europe.

The six domestic branded formulations areas gave 32 per cent growth y-o-y. Insulin grew 40 per cent over the year. Biocon said the launch of Insugen 100 i.u. would improve its market share.

New Syngene chief

Dr Goutam Das retired in December as the long-standing Chief Operating Officer of research arm Syngene. Mr Peter Bains, formerly from GSK, is in charge.

German subsidiary AxiCorp's nine-month net grew 33 per cent and sales 28 per cent y-o-y. It revamped its portfolio after sales dipped during the quarter, its CEO, Mr Dirk Ullrich, said. It was focussing away from low margin products after the German Government imposed a 16 per cent rebate for the next three years on drug makers.

Published on January 21, 2011

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