Biocon posts Revenues at Rs 2,148 Crores; EBITDA at Rs 579 Crores; PAT at Rs 338 Crores
Commenting on the results, Chairman and Managing Director of Biocon Kiran Mazumdar-Shaw stated, â€śI am pleased with the overall performance that we have delivered in FY12. Group Sales have risen by 16% and PAT was sustained at previous year levels despite lower net licensing income. We have delivered particularly strong growth in our Research Services & Branded Formulations business verticals. Our Balance Sheet remains robust and our cash position is strong. The global economic outlook remains uncertain. However, we are confident that we will make significant progress across all our businesses.â€ť
A press release from Biocon states that Full-year FY12 financials reflect strong performance by: Branded Formulations: 39% YoY growth, driven by chronic therapies. Research Services: 29% YoY, growth driven by new contracts and expansions in existing contracts. EBITDA and PAT margins at 27% and 16% respectively. Biosimilar Trastuzumab (Herceptin, Mylan alliance) commences Phase III trials in India. Inauguration of Biocon Research Center, a state-of-the-art integrated research & development hub in Bangalore. Amicable conclusion of insulin commercialization deal with Pfizer. Mary Harney, former Deputy Prime Minister of Ireland joins the Board of Biocon Limited.
About Biocon: Biocon Limited is Indiaâ€™s premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 70 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Bioconâ€™s stable include the worldâ€™s first Pichia-based recombinant human Insulin, INSUGENÂ® and glargine, BASALOGÂ® coupled with a state of the art insulin pen device, INSUPenÂ® and Indiaâ€™s first indigenously produced monoclonal antibody BioMAb-EGFRÂ®.(NSSNS)