Page 12 - Biocon

Biocon net profit rises 71% to Rs 144 cr in June quarter; revenue rises 23%

Biotechnology major Biocon on Wednesday reported a 71 per cent increase in consolidated net profit at Rs 144 crore for the June quarter on the back of robust growth across business verticals. The company had posted a net profit of Rs 84 crore in the April-June quarter of the previous fiscal. Total revenue rose to Rs 2,217 crore in the first quarter as compared with Rs 1,808 crore in the year-ago period, Biocon said in a regulatory filing. Biocon Executive Chairperson Kiran Mazumdar-Shaw said revenues grew as a result of robust growth in both biosimilar and generics verticals. "Our financial performance this quarter includes the impact of annual increments in personnel costs as well as increased input and freight costs, pursuant to pandemic and geopolitical disruptions of global supply chains," she added. All the company businesses are poised for the next phase of sustainable growth which has been challenged during the two years of the Covid pandemic, Mazumdar-Shaw said.

Biocon receives three US FDA observations on its Telangana plant

Biotechnology major Biocon on Thursday said the US health regulator has issued three observations after inspecting its Telangana-based manufacturing plant. The US Food and Drug Administration (USFDA) concluded a pre-approval inspection for Site 3 located at Hyderabad on July 20, Biocon Ltd said in a regulatory filing. "Three observations were cited at the end of the inspection, which we will be addressing within the stipulated time," it added. The company stands committed to quality, safety and efficacy of its products, the Bengaluru-based company said.

Biocon Biologics' antibody drug unit in Bengaluru gets EU GMP certificate

Approval comes from Irish health regulator, which had flagged some deficiencies in the manufacturing process iin May

Biocon arm Syngene ends contract with Bioinnovat Research over graft case

Guljit Sethi of Bioinnovat was named in CBI FIR on a bribery case involving CDSCO official and Biocon Biologics executive

Stocks to Watch Today: Adani Power, Biocon, Tata Steel, NTPC, PSU Banks

Stocks to Watch Today: Among airline shares, SpiceJet has reported seven aircraft related incidents in the last two months; while IndiGo said has hired over 1,500 cabin crew staff to counter likely at

Delhi HC rejects CBI plea for custody of four accused in Biocon case

The high court, however, directed the jail superintendent to hand over the custody of associate vice president of Biocon Biologics L Praveen Kumar

Research-linked incentive scheme in works for pharmaceutical industry

15% turnover investment in research could make companies eligible for the scheme

Biocon to buy 26% stake in AMPYR Renewable Energy Resources Eleven

The company has entered into an agreement for the purpose of "acquisition of solar power by acquiring equity stake up to 26 per cent in AREREPL", it said.

Stocks to watch: Reliance, Tata Motors, Biocon, Tata Steel, J&K Bank, BoB

Stocks to watch today: Akash M Ambani will take over as non-executive director and chairman of the board of directors of Reliance Jio; Tata Motors will hike prices of CVs by 1.5 to 2.5 per cent.

Biocon bribery case: CBI moves Delhi HC for custody of accused officials

CBI on Tuesday moved the Delhi High Court seeking the custody of officials accused of allegedly demanding bribes to waive the Phase-3 trial of "Insulin Aspart Injection"

Biocon Biologics bribery case: CBI moves HC challenging lower court verdict

The Delhi High Court has issued notices to the parties concerned and will hear the case on July 2

Stocks to watch: Adani Enterprises, Dish TV, Infosys, Hindustan Copper

Stocks to watch today: Adani Enterprises subsidiary raised over Rs 6,000 crore to set up greenfield copper refinery; State-run IOB will boost advances across retail, corporate and MSME loans this year

CBI arrests Jt Drug Controller, Biocon Biologics execs over fishy approvals

All five apprehended will be presented in court on Tuesday afternoon, agency to seek police custody

SEC recommendation in accordance with guidelines: Biocon Biologics

The company said its product approvals are backed by science and clinical data

Joint drugs controller nabbed taking bribe to clear Biocon unit's injection

The CBI registered a case of criminal conspiracy and corruption against Reddy, posted at CDSCO headquarters, and Dinesh Dua, Director at Synergy Network India Private Limited, among others.

Biocon hits over two-year low; slips 18% in six weeks post weak Q4 results

In the past one year, the stock has slipped 22 per cent, as against a 39 per cent rally in the S&P BSE Sensex.

CCI approves Serum Institute Life Sciences-Biocon Biologics deal

The Competition Commission of India (CCI) has approved a proposed deal involving Serum Institute Life Sciences, Covidshield Technologies and Biocon Biologics. Once the deal is complete, Serum Institute Life Sciences Pvt Ltd will have about 15 per cent stake in Biocon Biologics Ltd, according to the notice filed with the regulator. Covidshield Technologies Pvt Ltd (CTPL), a wholly-owned subsidiary of Serum Institute of Life Sciences, will be merged into Biocon Biologics. In a tweet on Wednesday, the watchdog said it has cleared the "merger by absorption of Covidshield Technologies into Biocon Biologics in consideration for acquisition of approximately 15 per cent equity shareholding of Biocon Biologics by Serum Institute Life Sciences." CTPL was incorporated to undertake the business of marketing, selling and distributing vaccines, drugs and other pharmaceutical products. Biocon Biologics Ltd is a subsidiary of Biocon Ltd. It offers treatment for chronic and acute diseases such as

Stocks to Watch: ITC, Lupin, Ruchi Soya, Manappuram Finance, JSW, Biocon

Stocks to Watch: The US markets suffered the biggest one-day sell-off in almost two years -Investors worry about inflation and its impact on earnings and prospects for monetary policy tightening

Ireland regulator reports manufacturing deficiency at Biocon's plant

Biocon Biologics is a subsidiary of Biocon Ltd

BJP hits out at Kiran Shaw for keeping mum on students carrying Bibles

The BJP used the signing of MoU for setting up the largest semiconductor fabrication unit in Karnataka to hit out at Shaw