Biocon, India’s largest biopharmaceuticals firm, has reported 65 % jump in net profit at Rs 171 crore for the third quarter ended December 2016 compared to Rs 104 crore in the corresponding quarter last year. Its total revenues have gone up 32% to Rs 1,092 crore as against Rs 829 crore a year ago. The revenue growth was led by a robust growth of 61% in the Biologics business, 24% growth recorded by small molecules, 18% by branded formulations and 17% growth by research services businesses. Licensing income stood at Rs 79 crore and other income was Rs 63 crore. EBITDA rose 57% to Rs 324 crore.
Company wins Rs 460-cr contract for insulin supply Biocon has won a three-year contract from the Malaysian ministry of health to supply recombinant human insulin (rh-insulin) formulations manufactured at its bio pharmaceutical facility in Johor, Malaysia. The contract is valued at Rs 460 crore.
Biocon’s subsidiary in Malaysia Biocon SDN. BHD will supply rh-insulin cartridges and reusable insulin pens under the Malaysian government’s off-take agreement (OTA) initiative, which seeks to encourage local manufacturing of new pharmaceutical products.