Biocon, a global biopharmaceuticals company, announced its consolidated financial results for the third quarter ended December 31, 2021, on Thursday night.
Commenting on the results, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, said, “Biocon’s consolidated Q3FY22 revenues grew by 18 per cent YoY to Rs 2,223 crore, driven by a strong performance across all business segments.
Biosimilars grew by 28 per cent to Rs 981 crore, Research Services was up 10 per cent at Rs 641 crore and Generics delivered a 7 per cent growth at Rs 607 crore.
“EBITDA at Rs 537 crore grew by 25 per cent, which was impacted by mark- to- market loss attributed to Biocon Biologics’ equity investment in Adagio. Core EBITDA stood at Rs 715 crore with a healthy margin of 33 per cent. PBT for the quarter stood at Rs 269 crore. Adjusted for Adagio related loss, PBT was higher at Rs 346 crore, indicating a healthy operating profitability.”
“Biocon Biologics achieved a key milestone with the commercialization of the world’s first interchangeable biosimilar, our Insulin Glargine, in the US Approvals for several of our generics and biosimilars in global markets, and renewal of key long-term research service agreements at Syngene, position us for a strong close to this fiscal,” she added.