Its net profit after tax in Q3 at Rs 45.58 crore was 4.1 per cent lower than the same quarter previous year. Similarly, Biocon's total sales for Q3 at Rs 219.62 crore was marginally (1.5 per cent) higher than Rs 216.35 crore in the same quarter last year.

But since the company had an extra-ordinary gain of Rs 238.46 crore in the December quarter by selling its Enzyme business, the final profit in Q3 stood at Rs 284.04 crore, five times last year. 

New tie-up
Biocon also announced that it has partnered with IATRICa, US-based biotechnology company, to co-develop new class of immunoconjugates targeted at immunotherapy of cancers and infectious diseases. Biocon stated that it has also made an equity investment in IATRICa.

Biocon also announced that the Board has agreed in principle to list Syngene,   on the Indian Stock Exchanges during FY 2008-09.