Biocon’s APIs, generic formulations biz posts ₹578 cr revenues
April 29, 2021
Company faced pricing pressure in the US, travel restrictions delayed approvals & launch new products
Biocon’s active pharma ingredients (APIs) and generic formulations business has posted revenues of ₹578 crore for the fourth-quarter (Q4) of FY 2020-21, a 3 per cent growth compared with ₹562 crore revenues posted last year.
Siddharth Mittal, CEO & Managing Director, Biocon Limited, said, “The FY21 performance was in line with our expectations. Revenues grew by 6 per cent over the previous year, with a profit before tax of 13 per cent, supported by double digit growth in generic formulations and a modest single digit growth in APIs. I am pleased that we were able to ensure continuity of our business operations and serve patients and partners through a challenging year.”