 "Biocon")
India's largest biotech firm Biocon said Q2 net profit dropped by half to Rs 69 crore as it saw pricing pressure on active pharmaceutical ingredients (API).
The Bengaluru-based Biocon saw revenue grow marginally by 3 per cent to Rs 1,019 crore due to regulatory and tender delays in its biosimilar business. However, it saw growth recovery in its research services subsidiary (Syngene) and branded formulations business segments.
"We expect these headwinds to ease by the end of this fiscal,” said Kiran Mazumdar-Shaw, Chairman and Managing Director of Biocon in a statement. “A significant development in this quarter is the submission
