Key highlights:
- Featured in DJSI for Emerging markets. Received total sustainability score of 45 against industry average of 18 (93rd percentile).
- Received Carbon Disclosure Project(CDP) rating upgrade from C to B.
- Selected to participate in PLI Scheme 2.0 for Pharmaceuticals. They will receive financial incentives of ₹250 Cr over 6 years.
New Management Hires:
- Appointed Matthew Erick as the Chief Commercial Officer – Advanced Markets for Biocon Biologics. He has over 2 decades of experience in the Healthcare Sector in the US. He was appointed to set up commercial capabilities in advanced markets of North America, Europe, Australia and New Zealand. He will be based out of the US.
- Appointed Dr. Mandar S Ghatnekar as Chief Digital Transformation Officer for Biocon Biologics. He has over 2 decades of experience in IT Advisory and Consulting in the life sciences industry.
- Appointed Ajit Pal Singh as the Head of Branded Formulation – India for Biocon Biologics.He will be responsible for long term strategy for existing brands and building new brands for long term sustainable growth.
Consolidated Financials:
- Revenue – ₹2223 Cr (18% growth YoY)
- Biosimilars – 28% growth, Research Services – 10% growth, Generics – 7% growth
- EBITDA – ₹537 Cr (24% margin, 23% last year)
- PAT – ₹187 Cr (11% growth YoY)
Segment-wise highlights:
- Generics – Revenue growth due to successful launch of Everolimus(an immunosuppressant, complex generic). They were there in the US on Day 1. There was a good uptick in the API business as well. The business faced pricing pressure from high RM, solvent and logistics cost. Received ANDA approval for Mycophenolic Acid Delayed-Release Tablets in the US. Also received approval for Everolimus tablets and Fingolimod capsules in the EU. They have partnered with Tabuk Pharmaceuticals to commercialize specialty products in the Middle East. They are on track to commission greenfield immunosuppressant API facility in Visakhapatnam in FY22 – qualification and validation will happen in FY23.
- Biosimilars: Strong performance of insulin bGlargine Biosimilar. A US court ruled in their favor on all 5 Sanofi device patents. Uptick in sales expected due to formulary listing in Express Scripts and Prime Therapeutics. They have also initiated expansion of insulin manufacturing facility in Malaysia.
- Novel: On track to initiate a pivotal study on Itolizumab in first-line acute Graft versus Host Disease in early 2022. Part B of Phase 1b EQUALISE study for Systemic Lupus Erythematosus/ Lupus Nephritis expanded to clinical centers in India after receiving approval from DCGI. Boston based associate – Bicara Therapeutics completed enrollment for the dose finding part of the Phase 1 trial for its lead program BCA101. Bicara established all doses tested to be safe.
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