Biocon posts more than twofold increase in Q4 profit
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Bengaluru: Biocon, an Indian biopharmaceutical company, has reported a more than twofold increase in its fourth-quarter profit, driven by robust demand for its generics and biosimilar products in its key U.S. and European markets.
The company's consolidated net profit rose 153% to 3.45 billion rupees ($40.43 million), after an exceptional item, for the three months ended March 31 from a year ago.
"Our biosimilars continue to build impressive shares in global markets with four biosimilars recording sales of $200 million each in FY25," Biocon Group Chairperson Kiran Mazumdar-Shaw said in a statement on Thursday.
Biosimilars are copies of costlier biological drugs for treating major illnesses such as cancer, rheumatoid arthritis and psoriasis.
Biocon's total quarterly revenue rose 12.3% to 44.54 billion rupees.
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