Biocon's Q1 generics business revenue up 16% to ₹599 crore

Our Bureau Bengaluru | Updated on July 24, 2020 Published on July 24, 2020

Signage for Biocon Ltd,   -  Bloomberg

Intensified focus on generics business pays off for biopharmaceutical player Biocon

Intensified focus on the generics business over the past year has shown results for Biocon Ltd, the Bengaluru-based global biopharmaceutical company.

“Despite the challenging environment of the global pharmaceutical industry, this business reported a 16 per cent increase in revenue to ₹599 crore in Q1FY21, continuing to deliver the strong double-digit growth momentum witnessed over the past several quarters,” said Siddharth Mittal, CEO & Managing Director, Biocon Ltd.

The company’s first-quarter (Q1) performance was led by the generic formulations business, which reported robust growth in the US. We also witnessed good traction in our key APIs during the quarter,” he said.

“Additionally, we expanded the commercial footprint of our generics formulations business by partnering with DKSH to commercialise seven of Biocon Pharma’s generic formulations in Singapore and Thailand,” he added.

Business highlights

Biosimilars: Biocon Biologics received USFDA approval for biosimilar Insulin Glargine, Semglee, making it the third product under the Biocon/Mylan collaboration to be approved in the US.

The company’s partner Mylan received USFDA approval for biosimilar Adalimumab, Hulio in which Biocon Biologics has shared economic interest. Received the certificate of GMP Compliance from EMA for multiple biologics drug substance and drug product manufacturing facilities at Biocon Park, Bengaluru.

Novel biologics: Itolizumab, the company’s anti-CD6 monoclonal antibody, received ‘restricted emergency use approval’ from DCGI for treating cytokine release syndrome (CRS) in moderate to severe acute respiratory distress syndrome (ARDS) patients due to Covid-19.

Bicara Therapeutics: Its lead asset, BCA101, has entered the clinic in the US. First patient dosed with BCA101 (anti EGFR-TGFbRII fusion mAb) under a US IND.

Research services: Syngene signed a voluntary licence agreement with Gilead to manufacture and supply Remdesivir in India and 127 other countries. Indigenously developed ELISA testing kit has been outsourced to a partner for manufacturing and distribution across the country. RT-PCR testing facility has supported government hospitals across Karnataka by conducting more than 30,000 Covid-19 tests free of charge.

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Published on July 24, 2020
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