Biocon looks to derive sales from US, EU to break even at Malaysia unit

India’s largest pharmaceutical firm Biocon is looking at deriving its sales from developed markets such as the US and the European Union to achieve break-even at its Malaysian subsidiary.

The Malaysia entity, which manufactures a range of insulins and recently received the certificate of GMP compliance from the European Medicines Agency, suffered losses of Rs 28 crore in 2018-19.

According to an Edelweiss report, investments would pick up at the company subsidiary in the current financial year and it would be spending $200 million in the second phase of the Malaysia plant.

“The Malaysia plant will derive a large portion of its sales