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<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>

Biocon shares are depressed itself but Syngene can offer a shot of hope

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Reed SaxonJudith Garcia, 19, fills a syringe as she prepares to give herself an injection of insulin.</div></div></div>(Reuters) - The Food and Drug Administration on Friday approved Novo Nordisk's fast-acting insulin to treat diabetes.The product, known as Fiasp, is designed to help diabetics control post-meal spikes in blood sugar. It is already approved in Canada and Europe.Fiasp will have the same list price as NovoLog, Novo's own fast-acting insulin that got approved in 2000. Novo said in a news release that it'll be providing savings cards to patients that are eligible to help with co-pays. Fiasp, or faster acting insulin asparte, is designed to work faster than existing fast-acting insulin such as Eli Lilly and Co's Humalog and NovoLog, known as NovoRapid outside the United States. Last year the FDA declined to approve the product and requested additional information.Diabetes is a group of conditions in which the body can't properly regulate blood sugar that affects roughly 30 million people in the US. For many people living with diabetes - including the 1.25 million people in the US who have type-1 diabetes - injecting insulin is part of the daily routine.And the <a href="http://www.businessinsider.com/insulin-prices-increased-in-2017-2017-5">prices of those insulins</a> have been rising - increases that mean some people are spending as much on monthly diabetes-related expenses as <a href="http://www.businessinsider.com/insulin-prices-increase-2016-9">their mortgage payment</a>. It's led some people living with diabetes to <a href="http://www.nbcnews.com/business/consumer/desperate-families-driven-black-market-insulin-n730026">turn to the black market</a>, <a href="http://www.businessinsider.com/crowdfunding-for-prescription-medications-2017-4">crowdfunding pages</a>, and <a href="http://www.nbcnews.com/business/consumer/patients-beg-pricey-drugs-facebook-black-market-n754266">Facebook pages</a> to get access to the life-saving drug.(Reuters reporting by Toni Clarke) <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/garbage-can-trash-911-memorial-nyc-tokyo-london-2016-8">Why you won't find a garbage can near the 9/11 memorial</a></h3> <div> </div> </div>

You Searched For "insulin aspart" and got 2 results

Biocon shares are depressed itself but Syngene can offer a shot of hope

Navdeep Yadav

The FDA just approved a new form of insulin

Lydia Ramsey,Reuters

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