Updated on 5 May 2014
The branded formulation sector is currently posing challenges in terms of growth last fiscal
Bangalore: On April 25, 2014, Biocon declared its FY14 performance results at its Bangalore campus, revealing 16 percent growth in its revenues, with revenues touching Rs 2,933 crore, followed by EBITDA at Rs 743 crore, and PAT hitting Rs 414 crore.
Commenting on the business highlights, Dr Kiran Mazumdar-Shaw, CMD, Biocon, said, "The small molecules has seen a very good momentum. Our portfolio is being optimized and we want to get away from doing commodity business to making better products. We are on track to file our first ANDA this fiscal. We aim to build a robust pipeline of difficult-to-make and technology-intensive molecules."
She further added, "Our Malaysian facility will be an integrated insulin manufacturing facility, which is coming up as planned, and will be commissioned in FY15. We have already hired a large number of employees to work at this facility, numbering closely about 250, which will cross 400 later. Our generic insulin business will continue to contribute for this fiscal and beyond."
According to Dr Kiran, the branded formulation sector is currently posing challenges in terms of growth last fiscal.
"This is due to trade related issues, drug regulation and pricing dilemmas. But it has delivered 13% growth this FY. The growth was driven by our flagship brands such as BIOMAb-EGFR and BASALOG. We are now more focused on profitable growth and patient-service model."