Biosimilars portfolio monetisation key for Biocon

March quarter performance weak due to delay in product approvals

Biocon’s results for the quarter ending March 2017 was muted due to longer timelines for product approvals in some emerging markets, discontinuance of some in-licenced products and impact of the fire at Syngene, its subsidiary.

Research arm Syngene, which contributed about 30 per cent to overall sales, saw a 14 per cent year-on-year (y-o-y) decline in business in the March quarter as a fire in December led to a temporary disruption. The small molecules and biologics business, contributing about half to revenues, also saw flat sales. Only branded formulations saw growth of 25 per cent, but since it forms only