EBITDA at Rs 256 Crore; Net Profit at Rs 92 Crore
Biocon, Asia’s premier biopharmaceuticals company, has announced its consolidated financial results for the fiscal third quarter ended on December 31, 2017.
Kiran Mazumdar-Shaw, Chairperson and MD says, “This has been a significant quarter for Biocon as we crossed a major milestone of obtaining USFDA approval for biosimilar Trastuzumab partnered with Mylan. Another highlight was the announcement of a new strategic partnership with Sandoz to develop, manufacture and commercialise a portfolio of next wave of biosimilars for global markets. Our Branded Formulations and Research Services segments reported a healthy double-digit growth during this quarter. We expect growth in other segments to revive from early next fiscal.”
Biocon becomes the first Company from India to get its biosimilar approved by the US FDA; OgivriTM, co-developed by Biocon and Mylan, is also the first biosimilar Trastuzumab to be approved in the US. Biocon collaborates with Sandoz for a global partnership to develop, manufacture and commercialise a number of next generation biosimilars to enhance patient access to complex bio-therapeutics in the area of immunology and oncology. Biocon also receives approval from ANVISA, the Brazilian regulatory agency, for biosimilar Trastuzumab, the first biosimilar Trastuzumab to be approved in Brazil.