25 Apr 2014, Srinivas Rao, BioSpectrum
Bangalore: India's leading biotech conglomerate Biocon records 16% revenue growth in FY14. The companies revenues for the period April 2013-March 2014 stood at ₹ 2,933 crore with an of EBITDA ₹743 crore. The PAT for the period was ₹ 414 crore.
Commenting on the quarterly performance and highlights, Chairman and Managing Director, Kiran Mazumdar-Shaw stated, "Biocon ended fiscal 2014 on a strong note. We delivered 16 percent revenue growth along with a healthy EBITDA Margin of 25%. This fiscal we recorded robust performance, an outcome of our efforts aimed at optimising our product mix, augmenting capacities and driving operational efficiencies. We have delivered on our promise of affordable innovation through commercialization of Alzumab, an anti-CD6 novel biologic for Psoriasis; and CANMAb, the world's most affordable trastuzumab. We are pleased that a large number of patients benefitted from these two products."
The R&D investments of company stood at ₹131 Crores (6% of Biopharma Segment sales) . The comany also announced the elevation of Dr Arun Chandavarkar to Chief Executive Officer and Joint Managing Director and appointment of Mr Ravi Limaye, as president - marketing, Biocon.