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Global biopharmaceuticals company <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword> on Wednesday reported 23 per cent rise in revenue for the first quarter of financial year 2023, at Rs 2,217 crore. "We have had a strong start to the year. At a consolidated level, YoY revenues grew 23 per cent backed by robust growth in both <keyword id="6359687" type="General" weightage="50" keywordseo="biosimilars" source="Orion">Biosimilars</keyword> (29 per cent) and Generics (19 per cent). Core earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 25 per cent and margin improved to 31 per cent compared to 30 per cent in Q1FY22 and net profit grew 71 per cent to Rs 144 crore. "Our financial performance this quarter includes the impact of annual increments in personnel costs as well as increased input and freight costs, pursuant to pandemic and geopolitical disruptions of global supply chains. "All our three businesses are poised for the next phase of strong and sustainable growth which has been challenged during the two years of the Covid-19 pandemic," <keyword id="14575168" type="General" weightage="50" keywordseo="biocon-and-biocon-biologics-executive" source="Orion">Biocon and Biocon Biologics Executive</keyword> <keyword id="10034873" type="General" weightage="20" keywordseo="chairperson-kiran-mazumdar-shaw" source="Orion">Chairperson Kiran Mazumdar-Shaw</keyword> said. Sales of Glargine in the US, and key biosimilars in emerging markets were the main drivers for <keyword id="14245336" type="General" weightage="50" keywordseo="biocon-biologicals" source="Orion">Biocon Biologicals</keyword>' strong performance. <keyword id="10493627" type="General" weightage="50" keywordseo="biocon-biologics-ltd" source="Orion">Biocon Biologics Ltd</keyword> Managing Director <keyword id="287851" type="General" weightage="50" keywordseo="arun-chandavarkar" source="Orion">Arun Chandavarkar</keyword> said: "Initiation of global clinical trials for two monoclonal antibodies and advancement of our other pipeline assets led to a 120 per cent increase in our research and development investments this quarter. Whilst this impacts EBITDA in the near term, such investments will create a strong portfolio to secure our future growth. "Our strategic alliance with Serum Institute Life Sciences for vaccines and the acquisition of Viatris' global biosimilars business are on track for closure in the second half of this calendar year." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/reduction-in-rice-cereals-sown-area-worrisome-bank-of-baroda/articleshow/93175801.cms">Reduction in rice, cereals sown area worrisome: Bank of Baroda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/oppo-pad-air-review-sleek-and-stylish-but-short-on-power/articleshow/93165775.cms">Oppo Pad Air review: Sleek and stylish but short on power</a>

Biocon Q1FY23 revenue up 23% at Rs 2,217 cr

<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

New Delhi, Jan 6 () Biotechnology major Biocon on Monday said private equity firm True North will invest Rs 536.25 crore to acquire 2.44 per cent stake in its arm Biocon Biologics, valuing the subsidiary at Rs 21,450 crore on a pre-money equity basis.
 The board of Biocon Biologics India Ltd has approved a primary equity investment by True North. As per the terms of the proposed agreement, True North will invest Rs 536.25 crore and will eventually translate to a 2.44 per cent minority stake in the biosimilars business after all restructuring, including the filed merger of Biocon Research Ltd with Biocon Biologics, Biocon said in a filing to the BSE.
 This values Biocon Biologics at Rs 21,450 crore or around USD 3 billion, on a pre-money equity basis, it added.
 "This investment is an endorsement of the value that Biocon Biologics has demonstrated as a global biosimilars player, having commercialised three of its molecules in developed markets such as the EU, the US, Japan and Australia," Biocon Chairperson and MD Kiran Mazumdar-Shaw said.
 This is at an important inflection point as, "we gain commercial success with our first wave of Biosimilar products and invest in the long term through broadening our pipeline, expanding our manufacturing capacity and increasing our commercial footprint," she added.
 In similar vein, Biocon Biologics CEO Christiane Hamacher said the investment by True North in Biocon Biologics reflects a high level of conviction in Biocon Biologics' status as a global frontrunner in biosimilars that is leveraging its large-scale manufacturing capabilities to shift the access paradigm for these life-saving therapies.
 "True North has had a long successful association with Kiran Mazumdar-Shaw and the entire Biocon team and see them as pioneers and leaders in specialised niches," True North partner Satish Chander said.
 True North is happy to associate with them for the third time through this investment in Biocon Biologics. Biosimilars is a fast-growing industry that addresses a fundamental need of bringing affordability to specialised effective biologic products, he added.
 Biocon Biologics has a product pipeline of 28 molecules, including 11 with Mylan, several with Sandoz, and is developing many independently.
 Shares of Biocon Ltd were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close. AKT HRS

True North to invest Rs 536.25 crore in Biocon Biologics for 2.44 pc stake

<ul><li>At 7:50 am, the SGX Nifty was up 0.52%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for 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 stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50. Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%. These are the stocks to watch out for during the trading session today: Cipla The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%. The shares of Cipla ended 0.62% lower on Friday. ITC On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment. The shares of ITC ended 0.54% lower on Friday. Divi’s Labs Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago. The shares of Divi’s Labs ended 0.40% higher on Friday. Biocon Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&amp;D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said. The shares of Biocon ended 0.17% higher on Friday. Lakshmi Vilas Bank Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The<a href="https://www.financialexpress.com/industry/banking-finance/made-significant-progress-with-clix-group-says-lakshmi-vilas-bank/2123468/"> bank also said</a> that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank. The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday. Voltas Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL). The shares of Voltas ended 1% higher on Friday. Vedanta Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review. The shares of Vedanta ended 0.21% higher on Friday. Tata Consumer Products Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review. The shares of Tata Consumer Products ended 0.64% higher on Friday. IndiaMART InterMESH, Equitas SFB and VIP Industries IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-world-has-surpassed-50-million-confirmed-coronavirus-cases/articleshow/79116745.cms">The world has surpassed 50 million confirmed coronavirus cases</a> <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-heal-in-america-president-elect-joe-biden-uses-his-victory-speech-to-address-a-fractured-country/articleshow/79108211.cms">'This is the time to heal in America': President-elect Joe Biden uses his victory speech to address a fractured country</a>

Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

New Delhi, Dec 2 () Biotechnology major Biocon and drug firm Mylan NV on Monday announced the launch of biosimilar Ogivri, used for treatment of certain breast and gastric cancers, in the US market.
 It is a biosimilar of global pharma major Roche's Herceptin.
 Ogivri is available in a 420 mg multi-dose vial and a 150 mg single-dose vial in order to provide the patients dosing and treatment flexibility, the companies said in a joint statement.
 "The US launch of Ogivri, the biosimilar trastuzumab co-developed by Biocon Biologics and Mylan, marks a significant milestone in our biosimilars journey," Biocon Biologics CEO Christiane Hamacher said.
 The introduction of both 420 mg multi-use vials and 150 mg single-use vials of a high quality biosimilar trastuzumab with robust long-term efficacy and safety data will offer greater choice and value to patients, prescribers and payors in the US, she added.
 "We aspire to serve 5 million patients through our biosimilars portfolio and cross a revenue milestone of USD 1 billion by FY22," Hamacher said.
 Ogivri was the first biosimilar trastuzumab approved by the United States Food and Drug Administration (USFDA), the statement said.
 It is approved for all indications of Herceptin including for the treatment of HER2-overexpressing breast cancer and metastatic stomach cancer, it added.
 "As one of the largest suppliers of oncology medicines in the US, we are proud to offer Ogivri, biosimilar trastuzumab, in both the 420 mg and 150 mg strengths and help increase more affordable access to this important treatment option for breast and gastric cancer patients," Mylan President Rajiv Malik said.
 With regulatory approval for "our biosimilar trastuzumab in more than 80 countries worldwide, we are bringing vast global biosimilars experience to the US and look forward to continuing our work with all stakeholders in the healthcare system to reduce costs, improve access and advance care," he added.
 Ogivri is the second biosimilar to be offered by Mylan through the Mylan-Biocon Biologics partnership in the US and the second FDA-approved biosimilar through this collaboration to support cancer patients, the statement said.
 Shares of Biocon Ltd on Monday closed at Rs 285.95 per scrip on BSE, up 1.53 per cent from its previous close. AKT RVK

Mylan, Biocon launch biosimilar of cancer drug Herceptin in US

Top stock picks for 2021 — Brokerages are betting big on Bharti Airtel, Tech M, HUL, Biocon, and Sun Pharma

New Delhi, Dec 12 () Biotechnology major Biocon and US-based biotechnology firm Equillium Inc on Thursday said they have expanded exclusive licensing agreement for itolizumab to include Australia and New Zealand.
Equillium had originally secured exclusive rights to develop and commercialise Biocon's novel biologic, itolizumab, for the US and Canada markets in May 2017, the companies said in a joint statement.
The companies have expanded their collaboration and license agreement for itolizumab to grant Equillium exclusive rights for developing and commercialising itolizumab in Australia and New Zealand, it added.
"Biocon is pleased with the development progress of itolizumab achieved by Equillium so far and has agreed to include Australia and New Zealand within the scope of the licensing agreement," Biocon CEO and Joint MD Siddharth Mittal said.
Biocon had partnered with Equillium in 2017, for itolizumab, to develop it for a wide range of autoimmune disorders, the statement said.
"We are pleased to deepen our relationship with Biocon by expanding our licensing agreement for itolizumab," Equillium President and Chief Business Officer Bruce Steel said.
Itolizumab is a novel first-in-class humanized anti-CD6 monoclonal antibody, which Biocon developed and launched in India under the brand name Alzumab to treat moderate to severe plaque psoriasis in 2013, the statement said.
Shares of Biocon Ltd closed at Rs 293 per scrip on BSE, up 0.90 per cent from its previous close. AKT BAL

Biocon, Equillium expand licensing pact for Itolizumab to include Australia, New Zealand

Further boosting investors’ confidence in the company, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword>’s biotechnology major <keyword id="158724" type="COMPANY" weightage="20" keywordseo="Biocon-Ltd">Biocon Ltd</keyword> has appointed scientist and Nobel laureate Dr Vijay Kuchroo and industry veteran Dr Jeremy M Levin as the additional independent directors of the company. 
	 
	Currently, Dr Kuchroo is the Samuel L Wasserstrom professor of Neurology at Harvard Medical School, senior scientist at Brigham and Women’s Hospital as well as the co-firector of the Center for Infection and Immunity, Brigham Research Institutes, Boston. 
	 
	“I welcome Vijay to the Biocon board. As a member of Biocon’s Clinical Advisory Board, Vijay has been providing valuable inputs on the company’s R&amp;D programs in auto-immunity. His scientific expertise in autoimmunity and oncology will help us as we seek to bring our R&amp;D programs to patients globally,” said Kiran Mazumdar Shaw, chairman of Biocon Ltd. 
	 
	On his appointment as the additional independent director, Dr Kuchroo said, “Biocon is a dynamic biopharmaceutical company with an eye on the future. The company’s research into innovative biologics – unique among Indian companies - has the potential to not only benefit patients in India, but also globally. Biocon is conducting interesting research in the field of autoimmune diseases and can play a crucial role in transforming the future of cancer and neurological diseases through its research in immunotherapy. A breakthrough will be particularly beneficial for India, which is seeing an increase in morbidities specifically in cancer.” 
	 
	At present, Dr Kuchroo has 25 patents and serves on the scientific advisory boards of a large number of big pharmaceutical companies across the world. “As an advisor to Biocon, Dr Kuchroo has made significant contributions towards scientifically positioning Itolizumab developed by Biocon, as a potential novel therapeutic for autoimmune diseases,” added Shaw. 
	 On the other hand, the company has successfully got award-winning business leader Dr Jeremy M Levin on its board. Dr Levin is considered to be among the top 25 influential people in the industry. Currently, he is the chairman of New York-based private company, Ovid Therapeutics Inc. He has previously served as the CEO of <keyword id="277008" type="COMPANY" weightage="20" keywordseo="Teva-Pharmaceuticals">Teva Pharmaceuticals</keyword>, one of the largest generic pharmaceutical companies in the world. 
	 
	Commenting on his appointment, Shaw said, “I welcome Jeremy to the Biocon board, he is an exceptional business leader with a deep understanding of the pharmaceutical and biotech industry. His expertise in leading companies, driving business development and company strategy to bring effective treatments to patients worldwide, augurs well for us. We look forward to his valuable contribution towards enabling Biocon make a strong impact on global health.” 
	 
	It should be noted that with two of the most credible and distinguished personalities of the global healthcare industry on board, Biocon has reiterated its strong growth in the industry. 
	 
	Image: Wikipedia

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Biocon Q1FY23 revenue up 23% at Rs 2,217 cr

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Mylan, Biocon launch biosimilar of cancer drug Herceptin in US

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