Total Income has increased to Rs. 7525.40 million for the quarter ended September 30, 2013.
Biocon Ltd has posted a net profit of Rs. 1021.50 mn for the quarter ended September 30, 2013 as compared to Rs. 896.50 mn for the quarter ended September 30, 2012.
Total Income has increased from Rs. 6419.40 mn for the quarter ended September 30, 2012 to Rs. 7525.40 mn for the quarter ended September 30, 2013.
Commenting on the results, Chairman and Managing Director, Kiran Mazumdar-Shaw stated,“Biocon has witnessed a strong performance in the first half of FY14 driven by an increased traction in emerging markets. Immuno-suppressants and Insulins continue to drive growth. This is in part bolstered by capacity expansion of our Insulins plant. Our bio-similar pipeline partnered with Mylan, continues to progress well and we anticipate Indian regulatory approval for our biosimilar Trastuzumab in the near future. The Research Services vertical has delivered a stellar set of numbers, despite an exceptional forex loss in Q2 FY14. This quarter also saw the launch of our second novel biologic, Alzumab, for Psoriasis in India. Alzumab has already seen an encouragingly strong acceptance in the market. The Branded Formulations business has
grown ahead of the market but has been muted by business and regulatory challenges. We remain confident that growth will continue across all businesses”.
Highlights:
Revenue growth in H1 FY14 reflects the strength of our differentiated portfolios
Biopharma Business: 21% YoY
Branded Formulations: 13% YoY
Research Services (Syngene and Clinigene): 36% YoY
Group EBITDA and PAT margins at 25% and 13% respectively
R&D investments of 82 Crores (9% of Biopharma sales)
Nationwide roll-out of our 2ndnovel biologic, Alzumab indicated for psoriasis
Successfully concluded the India Phase III trial of Biosimilar trastuzumab
Biopharma: Small Molecules & Biosimilars
The biopharma portfolio delivered a strong growth of 16% YoY and 13% YoY at Constant Exchange Rate (CER) for H1 FY14 and Q2 FY14 respectively.
Small Molecules
The small molecules portfolio sustained its strong performance through H1 FY14 on the back of steady sales in Immuno-suppressants and Orlistat. Our statins portfolio continues to support these growth
drivers with increasing traction in other geographies.
Biosimilars
The Biosimilars portfolio saw a robust growth in H1FY14, driven by the growing demand for generic insulins from emerging markets. We continue to enhance our emerging market footprint to provide a
wider access to affordable insulin therapy to diabetics worldwide.We have successfully completed the India Phase III trial for biosimilar trastuzumab, and have filed for regulatory approval with the Indian authorities. The other programs in the biosimilar development portfolio continue to progress well, and we look forward to bringing them further along the clinical development pathway.
Branded Formulations
The branded formulations vertical grew at 9% YoY this quarter, vis-à-vis the industry growth of 3%. We have seen sustained challenges in the Indian Pharma market (IPM), which de-grew by 2% in September
‘13. Systemic hurdles led by the chaotic implementation of the recent NPPA guidelines and the trade disputes on margins have resulted in widespread de-stocking & reduced off take. The highlight for us in Q2 FY14 was the launch of Alzumab (Itolizumab), a ‘First-in-class’ novel biologic therapy for Psoriasis. With a differentiated mechanism of action, Alzumab offers a new treatment paradigm for Psoriasis patients with a less aggressive dosing regimen and a longer treatment free period. The product has been rolled out across the nation, and we have seen encouraging feedbackfrom dermatologists and patients alike. Cytosorb, the only approved extracorporeal cytokine filter commercially available in the EU to safely remove a broad range of cytokines from blood is now commercially available in India, and marketed by the critical care division.
Biocon Ltd has posted a net profit of Rs. 1021.50 mn for the quarter ended September 30, 2013 as compared to Rs. 896.50 mn for the quarter ended September 30, 2012.
Total Income has increased from Rs. 6419.40 mn for the quarter ended September 30, 2012 to Rs. 7525.40 mn for the quarter ended September 30, 2013.
Commenting on the results, Chairman and Managing Director, Kiran Mazumdar-Shaw stated,“Biocon has witnessed a strong performance in the first half of FY14 driven by an increased traction in emerging markets. Immuno-suppressants and Insulins continue to drive growth. This is in part bolstered by capacity expansion of our Insulins plant. Our bio-similar pipeline partnered with Mylan, continues to progress well and we anticipate Indian regulatory approval for our biosimilar Trastuzumab in the near future. The Research Services vertical has delivered a stellar set of numbers, despite an exceptional forex loss in Q2 FY14. This quarter also saw the launch of our second novel biologic, Alzumab, for Psoriasis in India. Alzumab has already seen an encouragingly strong acceptance in the market. The Branded Formulations business has
grown ahead of the market but has been muted by business and regulatory challenges. We remain confident that growth will continue across all businesses”.
Highlights:
Revenue growth in H1 FY14 reflects the strength of our differentiated portfolios
Biopharma Business: 21% YoY
Branded Formulations: 13% YoY
Research Services (Syngene and Clinigene): 36% YoY
Group EBITDA and PAT margins at 25% and 13% respectively
R&D investments of 82 Crores (9% of Biopharma sales)
Nationwide roll-out of our 2ndnovel biologic, Alzumab indicated for psoriasis
Successfully concluded the India Phase III trial of Biosimilar trastuzumab
Biopharma: Small Molecules & Biosimilars
The biopharma portfolio delivered a strong growth of 16% YoY and 13% YoY at Constant Exchange Rate (CER) for H1 FY14 and Q2 FY14 respectively.
Small Molecules
The small molecules portfolio sustained its strong performance through H1 FY14 on the back of steady sales in Immuno-suppressants and Orlistat. Our statins portfolio continues to support these growth
drivers with increasing traction in other geographies.
Biosimilars
The Biosimilars portfolio saw a robust growth in H1FY14, driven by the growing demand for generic insulins from emerging markets. We continue to enhance our emerging market footprint to provide a
wider access to affordable insulin therapy to diabetics worldwide.We have successfully completed the India Phase III trial for biosimilar trastuzumab, and have filed for regulatory approval with the Indian authorities. The other programs in the biosimilar development portfolio continue to progress well, and we look forward to bringing them further along the clinical development pathway.
Branded Formulations
The branded formulations vertical grew at 9% YoY this quarter, vis-à-vis the industry growth of 3%. We have seen sustained challenges in the Indian Pharma market (IPM), which de-grew by 2% in September
‘13. Systemic hurdles led by the chaotic implementation of the recent NPPA guidelines and the trade disputes on margins have resulted in widespread de-stocking & reduced off take. The highlight for us in Q2 FY14 was the launch of Alzumab (Itolizumab), a ‘First-in-class’ novel biologic therapy for Psoriasis. With a differentiated mechanism of action, Alzumab offers a new treatment paradigm for Psoriasis patients with a less aggressive dosing regimen and a longer treatment free period. The product has been rolled out across the nation, and we have seen encouraging feedbackfrom dermatologists and patients alike. Cytosorb, the only approved extracorporeal cytokine filter commercially available in the EU to safely remove a broad range of cytokines from blood is now commercially available in India, and marketed by the critical care division.
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