Biocon has posted revenues at Rs 1,468 crores in H1 FY14. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) has been reported at Rs 362 crores and PAT at Rs 196 crores.
Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon said, “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.”
EP News Bureau – Mumbai
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