US President Donald Trump’s recent executive order to reduce prescription drug prices aims to address the significant price disparity of innovator drugs between the US and other developed markets like Europe and Australia. According to Biocon executive chairperson Kiran Mazumdar-Shaw, the order encourages greater use of generics and biosimilars, areas where India has proven strengths. In an interview with FE, she discusses what this means for the industry, as well as Biocon’s latest performance, biosimilars growth, and expansion in the US market. Excerpts:
Q How does President Trump’s executive order on reducing the cost of prescription drugs in the US impact Indian pharmaceutical companies, especially those with a large business in the market?
A.- President Trump’s executive order aims to narrow the pricing gap between innovator drugs in the US and those in developed markets like Europe and Australia. Rationalising drug costs has been a consistent focus for his administration, which now favours price negotiations over tariffs on imports. Crucially, the order does not target generics or biosimilars, which already offer affordable options under the Affordable Care Act. Nor does it seek price parity with developing countries. Indian companies like Biocon, with proven capabilities in cost-effective, high-quality manufacturing, are well-placed to support this shift. The April 15, 2025 order explicitly encourages the development of generics and biosimilars and facilitates access to lower-cost imports, paving the way for broader adoption in the US market.
Q How is Biocon building its presence in the US?
A -The US is a key market for us. We have five biosimilars already commercialised there. bTrastuzumab and bPegfilgrastim each hold over 25% market share. Insulin Glargine has a mid-to-high teens share. We are now preparing for the launch of bBevacizumab, branded Jobevne, and have secured an entry date in the second half of 2026 for Yesafili (bAflibercept), a biosimilar to Eylea. We have also partnered with Civica Inc, a US non-profit, to improve insulin access. On the generics side, we launched Lenalidomide and Dasatinib in Q4 and received US approvals for Everolimus tablets and Norepinephrine Bitartrate injection. These will enhance our specialty portfolio. In research services, Syngene’s acquisition of a biologics facility in the US gives us a manufacturing base in that market, enhancing both capabilities and customer access.
Q What drove Biocon’s growth in the fourth quarter?
A – The Group ended FY25 with a strong quarter, driven by solid contributions across all businesses. The launch of Liraglutide in the UK marked our entry into the GLP-1 therapy segment. Four of our biosimilars crossed $200 million in sales, and we launched Yesintek (bUstekinumab) in the US, one of the first biosimilars to Stelara. Additionally, Syngene expanded its biologics footprint by acquiring a manufacturing facility in the US. The fiscal year was a year of consolidation, and we are now poised for accelerated growth through innovation, digital adoption, and operational excellence.
Q The generics business posted a sharp rebound. What contributed to this turnaround?
A -The January-March period was our strongest quarter for generics in FY25, with 46% YoY and 53% sequential revenue growth. This was led by new launches in the US, including Lenalidomide and Dasatinib. We also introduced Liraglutide in the UK for diabetes and weight management. Supplies of Tacrolimus began for China, and we secured approvals for Liraglutide in the EU and Everolimus tablets in the US. These developments not only lifted Q4 but also position us well for future growth.
Q The biosimilars segment grew 9% in Q4. What’s driving this performance?
A – Our biosimilars business posted 9% YoY revenue growth in the January-March quarter, supported by market share gains in the US and successful tender wins in emerging markets. Fulphila and Ogivri now hold 30% and 26% US market shares, respectively, double compared to last year. We also launched Yesintek in the US, which is gaining good adoption and coverage. It’s already available in Germany and poised to benefit over 100 million lives. Our emerging markets business also performed well, driven by tender wins for bBevacizumab and rh-Insulin. On a full-year basis, our biosimilars business grew 15% YoY, reflecting the benefits of becoming a fully integrated company after the Viatris acquisition.
Q How do you see Biocon’s future growth trajectory?
A – We have laid a strong foundation through product launches, regulatory wins, and capacity expansion. Our focus is now on execution, deepening our presence in the US and emerging markets, and continuing to drive innovation and affordability. The next phase is about scaling up our pipeline and tapping newer opportunities in biosimilars and specialty generics globally.
