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Biocon Q1 net profit jumps 355% on biosimilars, generics growth
Biocon's Q1 net profit surged 355% to ₹141 crore, driven by biosimilars revenue up 16%. Biosimilar Denosumab and aflibercept launches in US and Europe contributed.
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Biocon's net profit surged 355% year-on-year to ₹141 crore in the first quarter of FY27, the company said in a filing. Revenue rose 10% to ₹4,336 crore.
The biosimilars business drove the top line, with revenue climbing 16% to ₹2,855 crore. The generics segment added ₹760 crore, up 21%. The services business lagged, falling 16% to ₹736 crore, hurt by challenges that carried over from last year.
In North America, the ramp-up of recently launched biosimilars Bosaya and Aukelso – both versions of Denosumab – underpinned growth. The oncology portfolio held steady. During the quarter, Biocon started selling Yesafili (aflibercept-jbvf) in the U.S. as an interchangeable biosimilar to aflibercept. It also launched generic Liraglutide in the U.S.