On August 8, 2024, Biocon Limited, a global biopharmaceutical company driven by innovation, released its consolidated financial results for the first quarter of the fiscal year ending June 30, 2024.
In the first quarter of FY25, Biocon Limited reported a consolidated revenue of ₹4,567 crore. The company made a net investment of ₹228 crore in research and development, accounting for 9% of its revenue. EBITDA for the quarter stood at ₹1,755 crore, with an EBITDA margin of 38%. Core EBITDA amounted to ₹903 crore, reflecting a core EBITDA margin of 26%. The net profit for the quarter was ₹660 crore, representing a net profit margin of 14%.
In Q1 FY25, Biocon generated a total revenue of ₹3,433 crore from its operations. The biosimilars segment, driven by Biocon Biologics Limited, contributed ₹2,083 crore. Syngene, Biocon’s research services arm, added ₹790 crore to the revenue, while the generics segment, which includes APIs and generic formulations, brought in ₹659 crore.
In Q1 FY25, Biocon’s Generics business generated ₹659 crore in revenue, marking a 6% decline compared to the same period last year due to lower demand for its base products.
Despite the challenges, the company achieved its first injectable approval in the U.S. with Micafungin, an antifungal medication available in 50mg and 100mg strengths, used to treat or prevent fungal and yeast infections.
Additionally, Biocon secured new contracts in the U.S. for Mycophenolic Sodium tablets and Liothyronine Sodium tablets. As part of its regional expansion strategy, the company signed an exclusive licensing and supply agreement with Handok, a speciality pharmaceutical firm in South Korea, to commercialise Synthetic Liraglutide. This drug, used for chronic weight management, is planned to be used alongside a reduced-calorie diet and increased physical activity.
Biocon Limited, listed on the stock market since 2004, is a global biopharmaceutical company focused on innovation. The company is dedicated to making complex therapies more affordable for chronic conditions such as diabetes, cancer, and autoimmune diseases. Biocon has successfully developed and launched novel biologics, biosimilars, and complex small molecule APIs in India and key global markets.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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