Biocon's conosldidated net profit surged to Rs 659.7 crore in Q1 FY25 as compared with Rs 101.4 crore in Q1 FY24. Revenue from operations increased marginally YoY to Rs 3,432.9 crore in during the quarter.

Total income jumped 29.9% to Rs 4,567.4 crore in Q1 FY25 as compared with Rs 3,516.1 crore in Q1 FY24. It includes proceeds of Rs 1,057 crore on account of the strategic collaboration between Biocon Biologics & Eris Lifesciences.

Profit before exceptional items and tax stood at Rs 1113.5 crore in Q1 FY25, steeply higher than Rs 183.7 crore in Q1 FY24. Exceptional items stood at Rs 320 crore in Q1 FY25.

“Biocon has reported consolidated revenues of Rs 4,567 crore for Q1FY25, delivering a strong 30% YoY growth, with EBITDA growing 117% to Rs 1,755 crore and a Net Profit of Rs 660 crore. This strong performance was primarily on account of a one-time gain from the strategic collaboration between Biocon Biologics and Eris Lifesciences. The underlying business performance of Biocon has been in line with our expectations. Post integration, the Biosimilars business has delivered a healthy performance with 11% like- for- like growth, as it consolidates business across global markets. This has helped offset the challenges of pricing pressures in the Generics segment and the difficult U.S. Biotech funding environment, which has impacted the growth trajectory of our Research Services business. 

“The outlook for this fiscal remains positive as we anticipate stronger growth in H2FY25, with new product launches in the Biosimilars and Generics businesses, including Liraglutide for diabetes and obesity in the UK and other markets. Additionally, we expect improved business prospects for Syngene, supported by a resurgent biotech funding environment in the U.S.,” said Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics.

BIOCON GENERICS

“The Generics business continued to encounter pricing pressure and demand contraction, which impacted our first quarter’s performance of both APIs and Generic Formulations.

The business made progress on its Most of the World (MoW) expansion strategy with the signing of a partnership agreement with Handok in South Korea for the commercialization of Liraglutide. We also obtained our first injectable approval in the U.S. for Micafungin and secured some key customer contracts in the region.

“Looking ahead, our focus will be directed towards commercializing products for which we have received approvals, including Liraglutide, in the second half of this fiscal, as indicated previously. We will also continue to accelerate our cost improvement initiatives and expedite on-going capex projects,” said Siddharth Mittal, CEO & Managing Director, Biocon Limited.

BIOCON BIOLOGICS

“Having successfully integrated the acquired business last year, Biocon Biologics’ focus in FY25 now shifts to consolidation and setting up the business for growth. We began the fiscal year on a strong note with the business delivering year-on-year growth of 11% on a like-for-like basis. This growth was underpinned by an increase in market shares, tender wins in Europe and Emerging Markets and 15 new product launches.

This quarter YESAFILI, our bAflibercept, became the 1st interchangeable biosimilar to be approved by the U.S. FDA. Our manufacturing facilities in Bengaluru, India and Johor, Malaysia received GMP certifications from leading regulatory agencies such as the European Medicines Agency (EMA) and Therapeutic Goods Administration (TGA), Australia. These milestones will serve as growth catalysts and allow us to expand our reach to millions of patients globally,” said Shreehas Tambe, CEO & Managing Director, Biocon Biologics Limited.

SYNGENE

“First quarter performance was broadly flat, in line with our expectations, reflecting the dip in funding for U.S. biotechs that has impacted our sector over the last two years. However, the value of U.S. biotech funding has seen a marked improvement in the first half of 2024. It will take a while for this funding to flow through into outsourcing activities and Syngene is in a strong position to capture a significant share of the upturn in biotech spending in the months ahead,” said Jonathan Hunt, CEO & Managing Director, Syngene International Limited.