Bengaluru: The India’s top biopharmaceuticals company, Biocon Ltd has announced its consolidated financial results for the fourth quarter and full year FY 2017. The company reported a revenue of Rs 974 crore for Q4 FY 2017 and a revenue of Rs 4,079 Cr for FY 2017.
Commenting on the performance, Chairperson and Managing Director, Ms Kiran Mazumdar-Shaw said, “We have closed the year FY17 with a strong revenue growth of 18 percent led by a sturdy performance of our Biologics as well as small molecules businesses. On a full year basis, our EBITDA rose 34 percent, while net profit before exceptional item reported a robust growth of 54 percent.”
She further said, “Our revenue growth was muted in Q4 FY 17. Our EBITDA margin at 24 percent in Q4 reflects a healthy operational performance. Our Net Profit for Q4 at Rs 135 crore, represents a growth of 75 percent, after adjusting for an exceptional item in Q4FY16.”
Commenting further on the results, Dr Mazumdar-Shaw, said, “FY17 was a landmark year wherein we established our credibility as a global biosimilars player with the launch of Biocon’s Insulin Glargine pen in Japan and submission of five regulatory filings of our biosimilars in the developed markets of US and EU. Our Malaysia facility became operational with the Malaysian government’s exclusive contract for Biocon’s insulins, which expanded our footprint in emerging markets. The multiple clinical and regulatory milestones crossed in our biosimilars business augur well for the future.”
Highlights of Biocon’s Q4 FY17 performance:
♦ Biologics License Application (BLA) for a proposed biosimilar Pegfilgrastim accepted for review by the US FDA; Second Successful BLA filing of the Mylan/Biocon Partnership in the US.
♦ Marketing Authorization Application for biosimilar Bevacizumab, post completion of RoW-focussed Phase 3 clinical trial in metastatic colorectal cancer, has been submitted for approval in India.
♦ Regulatory submissions for Insulin Glargine were made in the developed markets of Australia and Canada.
♦ The Malaysia government’s 3-year exclusive offtake agreement for rh-insulin cartridges and reusable pen provided a fillip to this business in Q4FY17.
♦ NeoBiocon ranked among the Top 15 pharmaceutical Companies, in UAE.
♦ Biocon has won the 9th National IP Award 2017 and WIPO Users Trophy in the category \’Top Indian Company for Creating Global Brand\’.
♦ Biocon\’s board recommends the issue of Bonus shares in the ratio of 2:1.
♦ Biocon’s board recommends a Final Dividend of Rs 3/- per share for FY17 (pre-bonus).
♦ Biocon Foundation collaborated with the Department of Health & Family Welfare of Karnataka to establish eLAJ smart clinics in 15 PHCs across six districts in the state.
♦ Biocon Academy achieved 100 percent placement for its eighth Batch of the Biocon KGI Program in Biosciences.
