News | July 27, 2021
Biocon Biologics partners Adagio to manufacture antibody for COVID-19
ADG20, a novel monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses
ADG20, a novel monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses
Q1 FY22 consolidated revenue grew 6% to Rs. 1,808 crore from Rs. 1,712 crore in Q1 FY21. Q1 FY22 Net Profit was Rs. 84 crore (vs. Rs. 149 crore in Q1 FY21).
The progress has been encouraging with approvals and launches in the US, EU, Japan, Australia and Emerging Markets. Post Mylan Upjohn (Pfizer) merger, the scope has been extended to China as well.
The drug is approved for the treatment in metastatic colorectal carcinoma, metastatic breast cancer and ovarian, cervical and renal cancer
The company has received a certificate of Good Manufacturing Practice compliance from the Medicines & Healthcare products Regulatory Agency (MHRA) UK
Biocon Pharma will be responsible for drug development and manufacturing, while Libbs will leverage its deep expertise and reach in Brazil to import, distribute and market
The centralized marketing authorization granted by the EC is valid in all EU Member
The partnership is a significant step in delivering advanced cancer therapies to patients.
Dr Christiane Hamacher, has stepped down as the MD of Biocon Biologics and will be succeeded by Dr Arun Chandavarkar.
EBITDA for the quarter stood at Rs. 427 crore and Net Profit was at Rs. 169 crore. Our Core EBITDA margins stood at 31%.
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