BENGALURU/HYDERABAD (Reuters) -Indian biopharma firm Biocon’s profit more than doubled in the fourth quarter, led by strong demand for its generics and biosimilar drugs in its key U.S. and European markets.
The company’s consolidated net profit climbed 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.
Revenue from its generic drugs business, which declined in the past few quarters, rose 46% to 10.48 billion rupees in the fourth quarter, aided by new product launches, especially in the oncology segment.
The company expects to see a recovery in its active pharmaceutical ingredient (API) business in fiscal 2026.
APIs are key components in a drug that produce the intended therapeutic effects.
Quarterly revenue in the company’s biosimilars business rose 4.5%.
Biocon said its focus is also on expanding its diabetes and obesity drugs portfolio, the demand for which has skyrocketed in global markets.
($1 = 85.3410 Indian rupees)
(Reporting by Rishika Sadam and Kashish Tandon in Bengaluru; Editing by Shreya Biswas)
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