News | October 25, 2021
Biocon Q2FY22 in line with estimates, better margins: ICICI Direct
Key takeaways of recent quarter & conference call highlights
Key takeaways of recent quarter & conference call highlights
It becomes the first ophthalmology biosimilar to gain FDA approval in the United States
The company has also applied to DCGI for Emergency Use Authorization (EUA) for ZyCoVD, the world's first Plasmid DNA Vaccine
Cadila's ZyCov-D (DNA-based vaccine) is undergoing phase III trials.
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
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
EBITDA for the quarter stood at Rs. 427 crore and Net Profit was at Rs. 169 crore. Our Core EBITDA margins stood at 31%.
With cost optimization leading to cumulative savings of US $80 million over last 8 years, the company now aims to tap bigger opportunities in generics business
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