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Biocon Biologics To Come Out With IPO Issue

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On Friday, Biocon Chairperson and MD Kiran Mazumdar Shaw told a leading business channel that Biocon Biologics is looking forward to garner as much as $200-300 million via an initial public offer in next 1.5-2 years time.

Biocon Biologics To Come Out With IPO Issue
 

Also, the company on the sidelines of its earnings results which were announced on Thursday said that the company received capital infusion to the tune of $75 million from a private equity funding.

The biotechnology firm revenue was as per estimates but margins were impacted due to higher R&D expenditure as well as remediation on the facility in Malaysia.

Shaw said: "The EBITDA margins this quarter are at 27 percent and core EBITDA margins have been retained at 33 percent. If you look at it, this is an improvement over last fiscal."

"So, I would say that at a 27 percent level, this actually factors the R&D spends that we have been incurring in terms of our pipelines. So, yes, at this 27 percent levels, it is an accepted norm for this kind of business because R&D is very much an integral part of the growth story."

Further, the MD said that company has a good set of products in its pipeline for demonstrating a $1 billion performance.

GoodReturns.in

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