Shares of the Biocon rose more than 3 per cent on Friday after the company reported strong set of Q1 numbers.
Biocon Ltd on Thursday reported 23 per cent growth in consolidated net profit at Rs 126 crore for the quarter ended June 30, 2015, against Rs 103 crore in the same quarter of previous year.
Check the share price details and financials of the company.
The company's total income rose 15 per cent to Rs 857 Crore against from Rs 742 crore for the quarter ended June 30, 2014 .
"Our biosimilars strategy is playing out well with five programmes in phase 3 clinical development," Biocon chairman and managing director Kiran Mazumdar-Shaw said in a press statement.
During the quarter we successfully licensed biosimilar Trastuzumab in key emerging markets. Our Insulins business was boosted with the launch of insulin Glargine in Mexico and Colombia. Our focus on key brands in Branded Formulations has begun to translate into a better quality of earnings, addded further.
The company said that it has appointed Narendra Chirmule as the Head of R&D. The Insulins Drug Products facility in Malaysia successfully completed a cGMP audit by Malaysia's National Pharmaceutical Control Bureau (NPCB).
Recently, Syngene International, research arm of biotechnology major received Securities Exchange Board of India's (Sebi) approval to launch an initial public offer (IPO).