Biocon R&D investments up 62% in H1

Biocon R&D investments up 62% in H1

Biocon, which reported a 12 per cent rise in revenues for the second quarter at Rs 861 crore, saw its net profit rise 200 per cent year-on-year to Rs 306 crore thanks to an exceptional income of Rs 203 crore, comprising mostly of proceeds from the Syngene IPO.

Kiran Mazumdar Shaw, Chairperson and MD, Biocon, said: “We don’t want to chase the topline. We want to make sure we have enough profits to invest in R&D, which is our main focus area.”

R&D expenses jumped 64 per cent from Rs 35 crore in Q2 FY2014-15 to Rs 57 crore in Q2 FY2015-16 for Biocon.

For the first half of FY2015-16, Biocon’s R&D expenditure jumped 62 per cent to Rs 107 crore. “Biocon has the highest investment in R&D compared with any company in India and it will continue to maintain this momentum,” said Shaw.

The biggest triggers for Biocon would be the $30 billion opportunity in terms of revenues from the Insulin Glargine, Pegfilgrastim, Trastuzumab, Adalimumab and Bevacizumab programmes for which it has partnered with Mylan, she said.

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