Biocon sees growth from new markets, no risk from USFDA biosimilar norms

Biocon expects continued growth momentum in its insulin and biosimilar business and sees no significant risks to its product approvals in the US due to the proposed guidelines in that country.

Biocon posted 65 per cent growth in net profit to Rs 171 crore in Q3FY17 on a year-on-year basis, driven by 32 per cent growth in revenue. The biologics segment was the main contributor to revenue and grew 61 per cent y-o-y. The company said it did not face a significant impact due to demonetisation though its branded formulation sales in India were affected.

"We expect our biologics business to continue