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Biocon Biologics Eyes $1bn In Sales As Q2 Revenues Jump 40%

Executive Summary

Strong growth in Biocon's biologics segment continued in the second quarter and the vertical has now set a target of $1bn in annual sales by the 2021-22 fiscal year.

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COVID-19 Dents Biocon Ahead Of Insulin Opportunity

Biocon’s fourth-quarter earnings were impacted by pandemic-related disruptions, especially its biologics arm, but the Indian firm anticipates a “good recovery.” All eyes will be on the anticipated US launch of biosimilar insulin glargine and its interchangeability status, while the company remains confident of delivering a $1bn FY2022 revenue target for biologics.

COVID-19 Turmoil Dents Biocon In Q4 But Opportunities Including Glargine In Store

Biocon’s fourth quarter earnings were impacted by pandemic-related disruptions, especially its biologics arm, but the Indian firm anticipates a “good recovery”. All eyes will be on the anticipated US launch of biosimilar insulin glargine and its interchangeability status, while the company remains confident of delivering a $1bn FY2022 revenue target for biologics.

Biocon Biologics Gets True North Investment

Private equity group True North continues to back the Biocon group and is picking up a minority stake in Biocon Biologics in a deal that values the subsidiary at $3bn. Separately, another subsidiary, Biocon Biosphere, has also been set up as part of efforts to unlock the full potential of the business.

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