Biocon Revenue moves up by 14 pc and stood at 1690 Cr in Q1FY21
Bengaluru/UNI: Pharmaceutical major Biocon Ltd, has reported revenue of Rs 1,690 Crore, an increase by 14 per cent, during the Q1 Financial year 2020-21.
The EBITDA of the company stood at Rs 432 Crores and the Net Profit (from continuing ops) stood at Rs 153 Crore.
Commenting on the results, Biocon Executive Chairperson Kiran Mazumdar-Shaw said: “Our consolidated revenue for Q1FY21 stood at Rs 1,690 Crore, recording a strong growth of 14pc, driven by robust performances by the Biosimilars and Generics business segments which grew by 19 pc and 16 pc, respectively."
She said that "the Research Services business reported flat revenue growth at Rs 422 Crore due to slowdown of operations impacted by the COVID-19 crisis. EBITDA for the quarter stood at Rs 432 Crore and EBITDA margin was at 26 pc. Net Profit (from continuing operations) was at Rs 153 Crore. Profitability for the quarter was impacted due to higher R&D spend, lower profit share in the Biosimilars business, and lower profitability in the Research Services segment.”
She further added that “It has been a breakthrough quarter for Biocon as we made a significant contribution to the global efforts aimed at addressing the pandemic through our innovative science. Earlier this month, the Drugs Controller General of India (DCGI) granted ‘restricted emergency use approval’ for Itolizumab, our novel anti-CD6 biologic therapy for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS). The ‘proof of concept’ pivotal study data is encouraging and highlights the urgent importance of further evaluating the potential therapeutic efficacy of Itolizumab in a larger number of COVID-19 patients."
" As a part of our commitment to the DCGI, we have planned a 200-patient, pan-India Phase IV trial to be conducted across 10-15 hospitals with a high caseload of serious COVID-19 patients. The study protocol has been submitted to the DCGI and we will commence the trial soon.” she added.
Image: UNI
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