Companies

Biocon Biologics posts 53% growth in revenues at ₹664 crore for Q4FY21

Our Bureau Bengaluru | Updated on April 29, 2021

For the full year, revenues have grown 21 per cent to ₹2,800 crore

Revenues of Biocon Biologics Limited, a subsidiary of Biocon Limited, grew by 53 per cent year-on-year (y-o-y) at ₹664 crore for fourth quarter of financial year 2021-22, mainly driven by emerging markets business. Q4FY21 EBITDA stood at ₹164 crore and EBITDA margin was 25 per cent.

Commenting on company’s performance, Dr Arun Chandavarkar, Managing Director, Biocon Biologics Ltd, said, “We have reported a revenue growth of 53 per cent y-o-y at ₹664 crore for Q4FY21, led by a strong growth of our emerging markets business, supported by market share gains for Pegfilgrastim and Trastuzumab biosimilars in the developed markets, and contributions from Insulin Glargine introduced in the US earlier this fiscal. The marketing authorisation approvals for our biosimilar insulin Aspart and biosimilar Bevacizumab in the EU augur well for our future business prospects.”

“For the full year, our revenues have grown 21 per cent to ₹2,800 crore despite a challenging business environment aggravated in part by the pandemic. However, we are confident that our strong business fundamentals as a vertically integrated company with global scale will see us expanding our reach to patients globally. With five biosimilars approved in developed markets, we will continue to invest prudently in our product portfolio thereby enabling affordable access to high quality biosimilars,” he added.

Itolizumab for treating Covid-19

The company said the 300-patient, multi-centric Phase 4 clinical study of our novel anti-CD6 monoclonal antibody, Itolizumab, in Covid-19 has been completed. Study results are to be published soon.

As India fights the second wave of the Covid-19 pandemic, Biocon Biologics have served over 6,500 patients with ALZUMAb-L (Itolizumab) so far in April 2021.

The company said it is responding to the second wave of Covid-19 in India, Biocon Biologics stepped up its efforts to provide its anti-CD6 novel biologic Itolizumab (ALZUMAb-L) to patients. ALZUMAb-L has approval from the Drug Controller General of India for restricted emergency use in treating CRS (cytokine release syndrome) in patients experiencing moderate to severe ARDS (acute respiratory distress syndrome) due to Covid-19. Over 6,500 patients have been treated with Itolizumab so far in April 2021 alone. “We remain committed to enabling physicians in saving patients’ lives.”

Published on April 29, 2021

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