U.K. Warns More Deadly Strain Makes Lifting Lockdown Harder Bloomberg 1/22/2021 Joe Mayes and Tim Ross
(Bloomberg) The U.K.’s new strain of coronavirus may be more deadly than first thought, Prime Minister Boris Johnson said, as he warned again that the country faces a long wait before it can emerge from lockdown.
Speaking at a news conference Friday in London, the premier said new evidence had led the government to revise its initial view that the variant was more contagious but not more dangerous. It may be 30% more deadly than the original strain - or more, a government analysis found.
Biocon Q3 net profit falls 17% to Rs 169 crore, revenue up 7%
The biosimilars and research services segment posted 11 per cent and 13 per cent growth, respectively, in their income during the quarter, while the generics business recorded a 3 per cent decline
BusinessToday.In | January 22, 2021 | Updated 17:39 IST
Biocon Executive Chairperson Kiran Mazumdar-Shaw
Biocon Ltd on Thursday reported a 17 per cent decline in consolidated net profit for October-December quarter of the ongoing financial year at Rs 169 crore. The company had posted a net profit of Rs 203 crore in the year-ago quarter.
However, its revenue rose 7 per cent to Rs 1,879 crore during the quarter ended December, led by double-digit growth in research services and biosimilars business segments.
Mutant Covid strain deadlier than original virus as Boris Johnson in dire warning
Researchers from the government s New and Emerging Respiratory Virus Threats Advisory Group issued the warning, followed by a comment from Boris Johnson confirming the higher mortality rate
Updated
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Arun Chandavarkar named Biocon Biologics MD
January 22, 2021
Prof Peter Piot joins Biocon Biologics board
Dr Christiane Hamacher has stepped down as the Managing Director of Biocon Biologics Ltd, a subsidiary of Biocon Ltd. She has been replaced with Biocon veteran Dr Arun Chandavarkar.
Dr Hamacher ceased to be a member of the Board of Directors of Biocon Biologics Ltd, effective January 20, 2021. “This decision was taken due to professional differences with the Chairperson on strategic priorities and vision for the company,” the company said in a regulatory filing to the exchanges.
Pursuant to this development, Dr Arun Chandavarkar, member of the board of Biocon Biologics Ltd will take over the mantle of Managing Director, effective January 21, 2021, for a period of up to two years, and Kiran Mazumdar Shaw will be the Executive Chairperson of Biocon Biologics Ltd effective January 21, 2021 until March 31, 2022.
Biocon tumbled 8.85% to Rs 402.85 after the company s consolidated net profit fell 16.9% to Rs 169 crore on 8% rise in revenue from operations to Rs 1,851 crore in Q3 FY21 over Q3 FY20.Profit before tax in Q3 FY21 stood at Rs 236 crore, down by 26% from Rs 318 crore in Q3 FY20. Tax expense during the quarter decreased by 22% year-on-year (YoY) to Rs 49 crore.
EBITDA declined by 11% to Rs 427 crore in Q3 December 2020 from Rs 480 crore in Q3 December 2019. EBITDA margins was at 23% as on 31 December 2020 as against 27% as on 31 December 2019.
Revenue from Generics was Rs 561 crore (down 3% YoY), revenue from Biosimilars was Rs 769 crore (up 11% YoY) and revenue from Research services was Rs 585 crore (up 13% YoY).