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<keyword id="6358777" type="General" weightage="20" keywordseo="new-delhi" source="Orion">New Delhi</keyword>, May 24 (PTI) Shares of <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword> climbed nearly 8 per cent on Wednesday after the biotechnology major's consolidated net <keyword id="6362247" type="General" weightage="20" keywordseo="profit" source="Orion">profit</keyword> increased 31 per cent for the March quarter. The stock gained 7.12 per cent to Rs 259.50 on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>. At the NSE, it rallied 7.61 per cent to Rs 260.60. Biocon on Tuesday said its consolidated net profit increased 31 per cent to Rs 313 crore for the March quarter on the back of robust sales. The company had reported a net profit of Rs 239 crore in January-March 2021-22. Total revenue increased to Rs 3,929 crore in the fourth quarter as against Rs 2,476 crore in the year-ago period, Biocon said in a statement. For the year ended March 31, 2023, the company reported a consolidated net profit of Rs 463 crore as against Rs 648 crore in 2021-22. Total revenue, however, increased to Rs 11,550 crore as compared with Rs 8,397 crore in FY22. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

Biocon shares rally nearly 8 pc after Q4 earnings

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InterGlobe Aviation, ONGC, Biocon and other top stocks to watch out for on November 17

Keep your eyes on DMart, NTPC, Biocon, Reliance Capital and Airtel as trading kicks off

<keyword id="8144461" type="General" weightage="80" keywordseo="biocon-biologics" source="Orion">Biocon Biologics</keyword>, a subsidiary of <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword>, on Thursday said it will offer around 15 per cent stake to <keyword id="12110332" type="General" weightage="20" keywordseo="serum-institute-life-sciences" source="Orion">Serum Institute Life Sciences</keyword> at a post-money valuation of about USD 4.9 billion. Serum Institute Life Sciences (SILS) is a subsidiary of Serum Institute of India (SII). For offering the 15 per cent stake, Biocon Biologics Ltd (BBL) will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS' upcoming vaccine facility in Pune with commercialisation rights of the SILS vaccine portfolio, including <keyword id="9078985" type="General" weightage="20" keywordseo="COVID-19-vaccines" source="Orion">COVID-19 vaccines</keyword>, for the <keyword id="35145" type="General" weightage="20" keywordseo="global-market" source="Orion">global market</keyword>, Biocon said in a regulatory filing. "Pursuant to the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing H2, FY23. <keyword id="383467" type="General" weightage="20" keywordseo="adar-poonawalla" source="Orion">Adar Poonawalla</keyword> will have a Board seat in Biocon Biologics Limited," it added. In addition to vaccines, the strategic alliance will also develop antibodies targeting several infectious diseases like dengue and HIV. "This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity," Biocon and Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. The two companies will enter Service Level Agreements for manufacturing and distribution of the vaccines and antibodies. "We look forward to complementing each other's capabilities and capacities in vaccines and biologics, with the objective of addressing inequitable access both in emerging and developed markets for life saving vaccines and biologics," Serum Institute of India CEO Adar Poonawalla said. Biocon Biologics will also establish, at its cost, a vaccine R&amp;D division to support the strategic alliance in developing both vaccines and biologics for communicable diseases. Additionally, wherever possible, it will make available its cell culture and sterile fill and finish capacities for vaccine production under the strategic alliance, the filing said. "Biocon Biologics would issue shares and receive the contemplated rights through a merger with Covidshield Technologies Pvt. Ltd, a wholly owned subsidiary of SILS, on customary closing conditions and receipt of regulatory approvals," it added. Shares of Biocon Ltd closed at Rs 376.90 per scrip on BSE, up 5.47 per cent from its previous close. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/white-oak-capital-gets-sebi-nod-to-enter-mutual-fund-business/articleshow/86263273.cms">Wealth management firm White Oak Capital gets SEBI’s nod to enter mutual fund business</a>

Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion

<ul><li>On June 5, Biocon’s Executive <keyword id="9348685" type="PERSON" weightage="20" keywordseo="chairperson-kiran-mazumdar-shaw">Chairperson Kiran Mazumdar Shaw</keyword> was named as <keyword id="9348456" type="UNKNOWN" weightage="20" keywordseo="ey-world-entrepreneur-of-the-year">EY World Entrepreneur of the Year</keyword> 2020. </li><li>With this, she joined Uday Kotak of Kotak Mahindra Bank and Narayana Murthy of Infosys, who were awarded with this honour in 2014 and 2005, respectively. </li><li>She founded the India-based pharma company Biocon with merely two employees and funds worth $500. </li><li>In 2014, Biocon became the first biopharma company to be a publicly-traded entity and the second company to touch the $1 billion mark on the very first day of the listing.</li></ul>In 1978, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> founded the India-based pharma company Biocon with merely two employees and funds worth $500. 42 years later, Shaw has been named as <keyword id="9348684" type="UNKNOWN" weightage="20" keywordseo="ey-world-entrepreneur">EY World Entrepreneur</keyword> of the Year 2020. <div type="twitter" handle="EY_EOY" handlename="EY EOY" image="http://pbs.twimg.com/profile_images/877518155282878464/HTnSrpib_normal.jpg" favoritecount="302" retweetcount="123" status="Congratulations to @kiranshaw, Executive Chairperson of India-based @Bioconlimited who is named EY World Entreprene… https://t.co/eYxchprTNh" createdat="1591297093000" id="1268618074879438853"></div> With this, she has joined the likes of Uday Kotak of Kotak Mahindra Bank and Narayana Murthy of Infosys, who were awarded with this honour in 2014 and 2005 respectively. The virtual award ceremony was held on June 5 — and she was chosen from over 46 entrepreneurs from 41 countries. “She has built India's largest biopharmaceutical company on a foundation of compassionate capitalism and putting patient needs before profits,” Chair of the EY World Entrepreneur Of The Year judging panel <a href="https://www.prnewswire.com/in/news-releases/dr-kiran-mazumdar-shaw-from-india-named-ey-world-entrepreneur-of-the-year-tm-2020-883966722.html">said</a>. An aspiring Brewmaster who opened a bio-enzymes company <div type="image" title="eea0f7895182bcc364abaeda35e570da" msid="76208305" hostid="261"></div> Kiran, who graduated from Australia in 1975 wanted to work as a Brewmaster — a person who looks after everything that goes in the process of making a beer. Little did she know, the brewing industry — which is highly male-dominated in India — will not accept a woman in the role. But, that did not stop her. Two years down the line, she started Biocon in a rented house in Bengaluru where they produced the bio enzymes in the garage. A year of struggle and Biocon became the first such company in India that exported enzymes to other countries like the US and Europe. Years later, in 2004, she came up with <keyword id="1829392" type="COMPANY" weightage="20" keywordseo="Biocon-Foundation">Biocon Foundation</keyword> — which aims to provide healthcare and sanitation facilities and diagnosis and treatment of cancer and other non-communicable diseases to weaker sections of the society. Bicon goes public <div type="image" title="06c05f1aefb71a5e6abe2fa9b1bd87fa" msid="76208327" hostid="261"></div> In 2014, Biocon became the first biopharma company to be a publicly-traded entity and the second company to touch the $1 billion mark on the very first day of the listing. Over the years, the bio-enzymes major — which is now one of the prominent biotech giants in Asia — grew multifold to become a <a href="https://www.businessinsider.in/stock-market/news/biocon-share-price-falls-after-earnings-and-mutual-funds-stake-in-the-stock/articleshow/75754048.cms">$5 billion company</a>. Today, Biocon provides healthcare requirements like insulin for diabetes, biosimilars for those fighting cancer, arthritis and other severe diseases. The company reported revenue worth $800 million, as of FY19 and employees more than 11,000 people. In fact, Biocon has created its mark where other pharma giants are struggling and has a presence in over 120 countries. That includes fermentation-based molecules, human insulin, contract research services and more. That may be because of the affordability of the products. In September 2019, Biocon announced the supply of a special kind of insulin to middle income companies on low prices — in fact, less than a third of the current prices. Meanwhile, Shaw has been an angel investor for a lot of startups in the healthcare domain including those in areas like breast cancer screening, chemotherapy and others. In times of the global pandemic While the world is waiting with bated breath for a vaccine to treat coronavirus, Shaw believes that it will take <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">at least nine months for the COVID-19 vaccine to enter clinical trials</a> in India. She also said that there will be multiple waves before the coronavirus curve flattens as community spread remains a key challenge in India. See also: <a href="https://www.businessinsider.in/business/news/mubadala-to-buy-1-85-pc-stake-in-jio-platforms-for-rs-9093-6-cr/articleshow/76205654.cms?upcache=2">Abu Dhabi's Mubadala to buy 1.85% stake in Ambani's Jio Platforms for ₹9093.6 crore</a> <a href="https://www.businessinsider.in/policy/foreign-policy/news/a-former-diplomat-explains-why-four-agreements-will-take-india-and-australia-ties-to-the-next-level/articleshow/76206931.cms">Beyond ‘khichdi’ and ‘samosa’ ⁠— a former diplomat explains why four agreements will take India and Australia ties to the next level</a>

Biocon’s Kiran Mazumdar Shaw, who debuted in the pharma industry with two employees and $500 becomes EY World Entrepreneur of the Year 2020

<ul><li>Leena Gandhi Tewari, the chairperson of USV, is a philanthropist who supports a variety of causes, including education, healthcare, and social development. </li><li>Manju D. Gupta and her family are known for their philanthropic endeavours, with a strong emphasis on education and healthcare. </li><li>Kiran Mazumdar-Shaw, the founder and chairperson of Biocon, is a dedicated philanthropist with a focus on environmental sustainability. </li></ul>Women have not only reached the pinnacle of success in their respective business ventures, they have also done their bit to give back to society. We take a look at India’s most <keyword id="19362296" type="General" weightage="20" keywordseo="generous-women" source="Orion">generous women</keyword> according to the Edelgive Hurun India Philanthropy List 2023. <cmsannotation type="cmsannotation" annotationid="Rohini Nilekani" comment="Subhead" text="Rohini Nilekani"><keyword id="36737" type="General" weightage="20" keywordseo="Rohini-Nilekani" source="Orion">Rohini Nilekani</keyword></cmsannotation> <cmsannotation type="cmsannotation" annotationid="Donation: ₹170 crore" comment="Subhead" text="Donation: ₹170 crore">Donation: ₹170 crore</cmsannotation> Rohini Nilekani is an Indian philanthropist who supports initiatives in education, water, sanitation, and civic engagement. She is the co-founder of EkStep and the Chairperson of Rohini Nilekani Philanthropies. She believes that education is the key to solving many of India's problems. She is the tenth most generous person in India, in a list that also has her husband Nandan Nilekeni at the eighth place. <cmsannotation type="cmsannotation" annotationid="Anju Aga and family" comment="Subhead" text="Anju Aga and family">Anju Aga and family</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Subhead" text="Donation: ₹23 crore">Donation: ₹23 crore</cmsannotation> Anu Aga, former Chairperson of Thermax, is a prominent philanthropist and Chair of the Akanksha Foundation, an NGO providing education to underprivileged children in Mumbai and Pune. Thermax is also committed to social responsibility and sustainable energy solutions, with initiatives in education, healthcare, and environmental protection. <cmsannotation type="cmsannotation" annotationid="Leena Gandhi Tiwari Donation: ₹23 crore" comment="Subhead" text="Leena Gandhi TiwariDonation: ₹23 crore"><keyword id="19362298" type="General" weightage="20" keywordseo="leena-gandhi-tiwari" source="Orion">Leena Gandhi Tiwari</keyword> Donation: ₹23 crore</cmsannotation> Leena Gandhi Tewari, the chairperson of USV, is a philanthropist who supports a variety of causes, including education, healthcare, and social development. She is the founder of the Dr Sushila Gandhi Centre for Social Development, which provides education and training to underprivileged women and girls in Vakola, Maharashtra. <cmsannotation type="cmsannotation" annotationid="Manju D Gupta and familyDonation: ₹14 crore" comment="Subhead" text="Manju D Gupta and familyDonation: ₹14 crore">Manju D Gupta and family Donation: ₹14 crore</cmsannotation> Manju D Gupta and her family are known for their philanthropic endeavours. Their contributions span various sectors, with a strong emphasis on education and healthcare. They have established educational institutions, scholarships, and medical facilities, making quality education and healthcare accessible to many. The family has also championed social causes, supporting initiatives that empower marginalised communities. <cmsannotation type="cmsannotation" annotationid="Vembu Radha Donation: ₹14 crore" comment="Subhead" text="Vembu RadhaDonation: ₹14 crore">Vembu Radha Donation: ₹14 crore</cmsannotation> Vembu Radha, a prominent figure in the technology world, is best known for her role at Zoho Corporation. As a key executive, she has played a pivotal role in the company's growth and success. Beyond her professional achievements, Radha is a dedicated philanthropist, actively involved in various charitable initiatives. <cmsannotation type="cmsannotation" annotationid="Renu Munjal and family Donation: ₹ 9crore" comment="Subhead" text="Renu Munjal and familyDonation: ₹ 9crore">Renu Munjal and family Donation: ₹ 9crore</cmsannotation> Renu Munjal, along with her family, is renowned for their association with Hero MotoCorp, a global leader in the two-wheeler industry. Beyond their corporate success, the Munjal family has a strong focus on philanthropy. They have established numerous educational institutions and healthcare facilities, actively promoting social welfare and empowerment. Their commitment to philanthropy, particularly in the fields of education and healthcare, has transformed lives, underlining their dedication to creating a more equitable and prosperous society. <cmsannotation type="cmsannotation" annotationid="Kiran Mazumdar-Shaw Donation:: ₹ 9crore" comment="Subhead" text="Kiran Mazumdar-ShawDonation:: ₹ 9crore">Kiran Mazumdar-Shaw Donation:: ₹ 9crore</cmsannotation> Kiran Mazumdar-Shaw, the founder and chairperson of Biocon Limited, is a dedicated philanthropist with a focus on environmental sustainability. She chairs the Biocon Foundation, established in 2014, which supports eco-friendly initiatives such as renewable energy, water conservation, waste management, and environmental education. Mazumdar-Shaw strongly advocates for corporate responsibility in protecting the environment.

Meet India’s most generous women

<ul><li>The 30-share BSE index was trading 334 points higher, and the broader NSE <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> was trading 0.75% higher on Tuesday at 9:50 am. </li><li>Here's a list of the top losers and gainers in the Nifty pack. </li><li>These are the <keyword id="35164" type="PERSON" weightage="20" keywordseo="top-stocks">top stocks</keyword> that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indices hit record higher in early trade on Tuesday, tracking positive cues from their global peers. The 30-share BSE index was trading 334 points higher, and the broader NSE Nifty was trading 0.75% higher on Tuesday at 9:50 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td></tr></tbody></table>*as of November 24, 9:50 am These are the top stocks in news today. Axis Bank soars on bullish analyst recommendation Axis Bank shares soared over 2% after Jefferies maintained a 'buy' call on the stock and has raised its target to ₹700 per share from ₹610 earlier. Future Retail hits 10% upper circuit for the second day in a row The shares of Future Retail were locked in a 10% upper circuit for the second day in a row after the CCI approved the Reliance deal to buyout Future Group's retail assets. SpiceJet gains 3% The shares of SpiceJet soared 3% after its subsidiary SpiceHealth launched a budget Covid test. The company said it would conduct the Real-Time Polymerase Chain Reaction (RT-PCR) test for COVID-19 starting at ₹499, which will drastically reduce the price of the RT-PCR test, which ordinally costs ₹3500. <keyword id="719816" type="DOMAIN" weightage="20" keywordseo="Jubilant-Industries">Jubilant Industries</keyword> soars 7% The shares of Jubilant Industries soared 7% after it decided to transfer its liquor license. The company said it would not manufacture India Made Foreign Liquor hereon. <keyword id="357699" type="COMPANY" weightage="20" keywordseo="Ingersoll-Rand-India">Ingersoll Rand India</keyword> slumps 6% The shares of Ingersoll Rand India slumped 6% in early trading hours on Tuesday after its promoter Ingersoll Rand Inc said it would sell up to 4.52% stake through an Offer for Sale (OFS) at a floor price of ₹578.6/share. The offer opens for non-retail investors today and tomorrow for retail investors. <keyword id="6358361" type="COMPANY" weightage="20" keywordseo="biocon">Biocon</keyword> trades over a percent higher The shares of Biocon gained over a percent after it entered into an agreement for the acquisition of a 26% equity stake on a fully diluted basis in Hinduja Renewables Two (HRTPL), a special purpose vehicle formed for the purpose of power generation and developing a captive power plant as per Electricity laws. GHCL gained nearly 2% The shares of GHCLgained nearly 2% after the stock exchanges have given a no-objection letter for the demerger of the company's textile business into GHCL Textiles. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/biden-will-pick-former-federal-reserve-chair-janet-yellen-to-head-the-treasury-department/articleshow/79378968.cms" data-type="tilCustomLink">Biden will pick former Federal Reserve Chair Janet Yellen to head the Treasury Department</a> <a href="https://www.businessinsider.in/politics/world/news/boris-johnson-to-relax-the-national-coronavirus-lockdown-and-allow-households-to-celebrate-together-over-christmas/articleshow/79368293.cms" data-type="tilCustomLink">Boris Johnson relaxes the national coronavirus lockdown and says families can meet to celebrate Christmas</a>

Market at record high, Nifty hits 13,000 — Here are the top stock movers in trade today

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Register for the <keyword id="10088455" type="UNKNOWN" weightage="20" keywordseo="global-trends-festival">Global Trends Festival</keyword> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/trendsform_2020.cms" data-type="tilCustomLink">here</a>.</li></ul> Kiran Mazumdar Shaw is India's richest self-made woman. She started Biocon at the age of 25 and has built it up into the country's largest pharmaceutical company. Her journey to the top was no easy task, but Shaw is known for her thinking and vision. Shaw could foresee the potential and opportunity in the biotech space, and she capitalised on it. Shaw calls herself an "accidental entrepreneur." She wanted to become India's first woman brewmaster. When those plans met with resistance in India, she set her sights on the industrial enzyme-producing business and marched on to conquer the biopharma space in the 90s. In 2014, Biocon was India's first biotech company to go public, and it hit the <a href="https://www.businessinsider.in/thelife/personalities/news/indias-second-richest-woman-kiran-mazumdar-shaw-nearly-doubles-her-wealth-to-4-6-billion-during-the-covid-19-pandemic/articleshow/78569565.cms">$1 billion mark</a> on the day it listed. There has been no looking back since. Kiran Mazumdar Shaw believes that women play an essential role in economic development, and their contribution has been ignored for a long time. "It's a myth to think that women are not bold enough to run daring businesses. It's a myth that all of us have busted time. So, I'm really surprised that the world still doesn't get it," she told <a href="https://www.businessinsider.in/thelife/personalities/news/kiran-mazumdar-shaw-wanted-to-be-a-brewmaster-before-founding-the-largest-biotech-company-in-india/articleshow/74508921.cms">Twitter </a>in an interview earlier this year. A pioneer of the biotech industry in India, Shaw has been conferred upon with Padma Shri and the Padma Bhushan. She believes that entrepreneurship is not about making the moolah but having a purpose, and one must always think about giving back to society. In fact, Shaw can tell the Covid-19 story as a survivor and a healer. After all, she has the first-hand experience — as the 67-year old tested positive in mid-August and recovered by the end of the month. And her $7 billion company, Biocon's repurposed drug, Itolizumab, is used to treat the dreaded virus for emergency cases. However, the drug is not a part of the government's clinical management protocol for COVID-19 treatment yet. At the Global Trends Festival 2020, Shaw will share insights on why entrepreneurs must be risk-takers, her journey as a businesswoman, and unlocking India's suppressed potential. SEE ALSO: <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/guenter-butschek-will-speak-about-the-much-needed-electric-push-towards-a-greener-future-at-the-global-trends-festival/articleshow/78642212.cms" data-type="tilCustomLink">Guenter Butschek will speak about the much needed electric push towards a greener future at the Global Trends Festival</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/hear-and-learn-from-byju-raveendran-the-man-who-made-online-classes-fun-years-before-covid-at-the-global-trends-festival-2020/articleshow/78641694.cms" data-type="tilCustomLink">Hear and learn from Byju Raveendran, the man who made online classes fun, years before COVID, at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/dont-miss-rana-daggubati-speak-about-the-future-of-storytelling-at-the-global-trends-festival-2020/articleshow/78630087.cms" data-type="tilCustomLink">Don’t miss Rana Daggubati speak about the future of storytelling at the Global Trends Festival 2020</a>

Catch Kiran Mazumdar Shaw at the Global Trends Festival 2020, speak about unlocking India's suppressed potential

<ul><li>The Indian stock markets could open on a positive note on September 17, with enough steam left in the bulls even now. </li><li>Trends on SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> showed an increase of 89 points, suggesting that Nifty could open in the green despite mixed cues in other Asian markets. </li><li>Biocon, <keyword id="6357252" type="General" weightage="20" keywordseo="hero-motocorp" source="Orion">Hero MotoCorp</keyword>, TVS Motor and banks could be among the top stocks to watch out for on September 17. </li></ul><cmsannotation type="cmsannotation" annotationid="Biocon" comment="subhead" text="Biocon">Biocon</cmsannotation> Its subsidiary, Biocon Biologics, has entered into an agreement with Serum Institute of India to offer it a 15% stake in the company in exchange for 100 million vaccine doses per year for 15 years, and commercialisation rights for Serum Institute’s vaccine portfolio for the global market. <cmsannotation type="cmsannotation" annotationid="Hero MotoCorp" comment="subhead" text="Hero MotoCorp">Hero MotoCorp</cmsannotation> To increase prices of its scooters and bikes by up to ₹3,000 from September 20, to offset the increase in commodity prices. <cmsannotation type="cmsannotation" annotationid="TVS Motor" comment="subhead" text="TVS Motor">TVS Motor</cmsannotation> Acquired a majority stake in EGO Movement, a Swiss technology company with a portfolio of electric bikes, scooters and cargo bikes. <cmsannotation type="cmsannotation" annotationid="Banks" comment="subhead" text="Banks">Banks</cmsannotation> Finance Minister Nirmala Sitharaman announced a framework for India’s bad bank, guaranteeing up to ₹30,600 crore for security receipts. The National Asset Reconstruction Company will buy bad loans from banks by offering them 15% of the net asset value in cash, and the rest in the form of security receipts. <cmsannotation type="cmsannotation" annotationid="IPO Watch" comment="subhead" text="IPO Watch">IPO Watch</cmsannotation> Sansera Engineering IPO subscribed 11.47 times on the final day. Paras Defence announces IPO, offer opens on September 21. <cmsannotation type="cmsannotation" annotationid="Kotak Mahindra Bank" comment="subhead" text="Kotak Mahindra Bank">Kotak Mahindra Bank</cmsannotation> Acquired Volkswagen group’s vehicle loan arm, Volkswagen Finance, giving it access to 30,000 customers with a loan outstanding of ₹1,340 crore. <cmsannotation type="cmsannotation" annotationid="Infosys" comment="subhead" text="Infosys">Infosys</cmsannotation> Selected by Frost Bank, a Texas, US-based bank, to launch a new mortgage loan product. <cmsannotation type="cmsannotation" annotationid="JSW Steel" comment="subhead" text="JSW Steel">JSW Steel</cmsannotation> Raised $1 billion by way of bonds in the overseas market. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/indias-bad-bank-get-government-nod-green-lights-narcl-with-30600-crore-guarantee/articleshow/86262155.cms">India's bad bank gets government nod — green lights NARCL with ₹30,600 crore guarantee</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/business/corporates/news/itc-surprises-investors-by-rallying-7-5-suddenly-today/articleshow/86255237.cms">ITC finally starts rallying, but Twitter can't stop trolling it</a>

Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17

<ul><li>“Even after India approves the coronavirus vaccine, it might not be possible to produce more than 10-20 million doses in the first year.”</li><li>The comments came from the Chairperson of Biocon in an exclusive chat with Business Insider.</li><li>Syngene, a Biocon subsidiary, is involved in accelerating a bunch of initiatives to develop a vaccine for the novel coronavirus that is spreading around the world.</li></ul>There are at least six vaccines under development in India, of the total 100 around the world including from the likes of Sanofi, Altimmune, and Pfizer. “Indian vaccine programmes will take some time before they get into the clinical trials, I think between 6 to 9 months depending on the programme. At least the ones we are working on, I don’t think they can get to clinics before 9 months,” Kiran Mazumdar Shaw, Founder and Executive Chairperson, Biocon told Business Insider. Vaccine development takes time due to the phases involved Shaw further said that vaccine development takes a lot of time because several phases are involved in it. In the first phase, a dose escalation is done to see what the ideal dose for an optimal immune response is. In the second phase, it is tested if the immune response can be done in all age groups. This is important as the first phase is conducted with young healthy volunteers who are at minimal risk. In the third phase, the vaccine is given to a larger population to ensure that the same immune response is given by everyone who is vaccinated. “One of the most important things of this phase is to check how long the immunity stays. This allows to determine how often a person will have to get revaccinated,” Shaw further noted. India will only be able to produce 10-20 million vaccines in 1 year Speaking about the production capacity, Shaw said that even after the vaccine is approved, India may not be able to produce more than 10-20 million doses in the first year, which is a negligible amount considering India’s population. See also: <a href="https://www.businessinsider.in/international/news/sanofi-one-of-the-largest-drug-makers-will-test-experimental-coronavirus-vaccine-on-humans-starting-september/articleshow/75571397.cms">Sanofi, one of the largest drug makers, will test experimental coronavirus vaccine on humans starting September</a> <a href="https://www.businessinsider.in/science/news/2-of-the-worlds-biggest-drugmakers-just-teamed-up-on-a-coronavirus-vaccine-and-theyre-aiming-to-launch-it-next-year/articleshow/75142796.cms">2 of the world's biggest drugmakers just teamed up on a coronavirus vaccine, and they're aiming to launch it next year</a>

Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months

<ul><li><keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword> founder <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> wanted to be a brewmaster before entering pharmaceuticals.</li><li>In an interview with Twitter India, Shaw said the idea for Biocon was created ‘on a rebound’ after getting pushed out of the brewing industry.</li><li>Despite breaking myths about women in daring businesses, she said, "The world still doesn’t get it."</li></ul>Kiran Mazumdar Shaw is India’s richest self-made woman in India with a net worth of $3.2 billion. But before she founded Biocon, she wanted to be a brewmaster — a person who supervises the brewing process of malt liquors. "I trained to be a brewmaster, but that was not to be because the brewing industry is quite a male bastion. They just couldn’t hire a woman," she said in an interview with <a href="https://twitter.com/TwitterIndia/status/1235826195737890817">Twitter India</a> celebrating International Women's Day 
	<div type="twitter" handle="TwitterIndia" handlename="Twitter India" image="http://pbs.twimg.com/profile_images/1012752671344771072/V7P59P0p_normal.jpg" favoritecount="77" retweetcount="10" status="The #Catalyst: @KiranShaw Tweets for women in science and women in the workplace. She Tweets for #EveryWoman https://t.co/dg4Wc7uqB0" createdat="1583478900000" id="1235826195737890817"></div>



 It was only after getting pushed out from the brewing industry that Shaw decided to go into pharmaceuticals instead in 1978. "I guess it was on a rebound, that I took up the opportunity to start my own biotech company," said Shaw. Even then, it wasn’t an easy journey. Banks weren’t ready to lend money to someone to start a business in a sector that was still in its nascent stages. It — so it took some time before people took the company, and its founder, seriously. "I think it was a very tough time for me initially because I have to overcome that credibility challenge of being a young girl who no-one took seriously," said Shaw. The world still doesn’t get it — but it’s getting better Biocon entered the US market and soon became the first company in the world to gain approval from the USFDA for two biosimilars used in cancer treatments. Now, not only is Shaw the <keyword id="7766819" type="UNKNOWN" weightage="20" keywordseo="richest-woman-in-India">richest woman in India</keyword>, she is the 54th richest person in India overall, according to <a href="https://www.forbes.com/profile/kiran-mazumdar-shaw/#1970143a59ad">Forbes.</a> "It’s a myth to think that women are not bold enough to run daring businesses. It’s a myth that all of us have busted over time. So, I’m really surprised that the world still doesn’t get it," she told Twitter. However, she holds out hope for the future. "What I’m heartened by is that women are getting stronger and more vociferous and more articulate about what they believe in. It’s an endurance game. You’ve got to tell your story well, and don’t give up. Keep going with what you’ve started off with because that commitment and conviction will finally get you to where you want to be," she added. See also: <a href="https://www.businessinsider.in/international-womens-day-indian-women-still-a-long-way-off-from-empowerment/articleshow/68313107.cms">Women’s day in numbers: 9 grim reminders that Indian women are still a long way off from empowerment</a> <a href="https://www.businessinsider.in/advertising/brands/article/remembering-bumbles-brand-journey-before-international-womens-day/articleshow/74489656.cms">Remembering Bumble’s brand journey before International Women’s Day</a>

Kiran Mazumdar Shaw wanted to be a brewmaster before building the largest biotech company in India

<ul><li>Biocon Limited share price fell over 3% despite a 14% jump in revenue between April and June 2020. </li><li>The research and development expenditure went up 35% and pushed the profit down by a quarter compared to the same time last year </li><li>However, Syngene, where Biocon owns 70% stake, has projected a double-digit revenue growth for the rest of the financial year. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul> The Bengaluru-based biopharmaceutical company Biocon Limited share price fell over 3%. Investors were disappointed by the 26% fall in profit to ₹167.8 crore ⁠— despite a 14% rise in revenue⁠— between April and June 2020 compared to a year earlier. However, the shares of its subsidiary Syngene, the integrated research, development and manufacturing company, where Biocon owns 70% stake, is up and about with gains of over 5%— the rally is close to 13% in the last two days. <div type="image" title="BIocon" msid="77146419" hostid="261"></div> The pain in Biocon Biocon, executive chairperson, <keyword id="6413985" type="PERSON" weightage="20" keywordseo="kiran-mazumdar-shaw">Kiran Mazumdar-Shaw</keyword> said, “Profitability for the quarter was impacted due to higher R&amp;D spend, lower profit share in the biosimilars business, and lower profitability in the research services segment.” The company spent 35% more on the research and development as the COVID-19 pandemic peaked. However, research services (which made for a quarter of the company’s revenue) didn’t grow at all. The revenue from the segment was ₹422 crore, unchanged from a year ago. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue Growth </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Contribution to Revenue </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Generics </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biosimilars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40.90% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Research Services </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.90% </td></tr></tbody></table> Syngene looks to return to growth COVID-19 impacted performance at Syngene with Q1 profits dropping 19% due to temporary suspension of operations on back of the lockdown; revenues were flat at `437 crores year-on-year. Margins held steady at 32%, driven by savings in raw material costs and certain operational efficiencies. The biggest takeaway was Syngene’s optimistic guidance - the management expects to see double-digit growth for the rest of the year. Future outlook from Biocon Earlier this month, the Drugs Controller General of India (DCGI) granted ‘restricted emergency use approval’ for Itolizumab, our novel anti-CD6 biologic therapy for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS). The company also received the <keyword id="44669" type="COMPANY" weightage="20" keywordseo="USFDA">USFDA</keyword> approval for Semglee, which will enable it to expand patient access to the Insulin Glargine through its partner Mylan. The company also targets to have at least eight biosimilars available in developed markets by the end of next financial year through its partner, — namely Trastuzumab, Pegfilgrastim, Adalimumab, Bevacizumab, Etanercept, Insulin Glargine, <keyword id="9635486" type="PERSON" weightage="20" keywordseo="insulin-aspart">Insulin Aspart</keyword> and RH-Insulin. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/after-google-pwc-india-declares-a-company-wide-holiday-for-its-employees-this-friday-offers-time-off-for-a-well-deserved-break/articleshow/77125627.cms">After Google, PwC India declares a company-wide holiday for its employees this Friday – offers time off for a 'well-deserved' break</a> <a href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-is-now-the-fifth-richest-person-in-the-world-according-to-forbes/articleshow/77105843.cms">Mukesh Ambani is now the fifth richest person in the world, according to Forbes</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-hcl-tech-dont-want-h1b-ban-but-are-pocketing-savings-while-it-lasts/articleshow/77120776.cms">The H1-B visa ban is not what Indian IT firms want⁠— but they are pocketing some savings while it lasts</a>

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