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Last Updated : Oct 26, 2018 11:00 PM IST | Source: CNBC-TV18

Expect steady growth in biosimilars segment going forward, says Kiran Mazumdar Shaw of Biocon

“Overall, we have a nice basket of biosimilars for both the US and European market, which will set us up for a steady growth in that segment going forward,” said Shaw.

CNBC TV18 @moneycontrolcom

Bio-pharmaceutical company Biocon reported a 167 percent jump in second-quarter profit, beating analysts' estimates. CNBC-TV18 spoke to Kiran Mazumdar Shaw, CMD of the company, about the earnings and business plans.

"Biologics sales were led by Pegfilgrstim, sale of other biosimilars and sale of insulin in certain markets like Mexico, Malaysia and Brazil," said Shaw, adding that the rich contributions in terms of margin and topline has come from US launch of Pegfilgrstim in Q1.

“All this sets us up for good sustainable growth in coming years because we are also preparing for a European entry for Pegfilgrstim and Trastuzumab where we await approval by the end of the year,” she said.

“Overall, we have a nice basket of biosimilars for both the US and European market, which will set us up for a steady growth in that segment going forward,” said Shaw.

Clarifying about the exceptional income and stake in Equillium, she said, "Itolizumab is a unique antibody that they had developed in India but found that India was not the right place to develop this asset because there was poor recognition of such a valuable asset and so they decided to license it to a US biotech company called Equillium."

“Equillium proposed to develop the asset for certain indication for which we entered into a licensing agreement, which saw us getting a stake in Equillium. This stake is what has been evaluated as a fair market valuation and this is what we have recognised as an exceptional income,” said Shaw.

(Source: CNBC TV 18)
First Published on Oct 26, 2018 09:36 pm
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