The Bangalore-based biotechnology company expects its revenue will rise 15-18 percent, driven by research services and branded formulations in India.
Kiran Mazumdar-Shaw talks about Biocon‘s fallout with Pfizer which was perhaps the company‘s most significant event since its insulin analogues breakthrough
Biocon shares slipped 2% on Thursday after the biotechnology company reported lower-than-expected first quarter earnings. Its quarterly net profit rose 13% to Rs 79 crore, while net sales rose 30% to Rs 571 crore.
Biocon chief Kiran Mazumdar-Shaw says that the research division is set to benefit from the fall in the value of rupee. "That apart, Biocon will see margin improvement in exports due to the rate differential," she says.
A steep fall in licensing income saw Biocon's net profit fall unexpectedly. Despite an 11% surge in net income, the company's net profit slipped 9% to Rs 70 crore.
In an exclusive interview with CNBC-TV 18, Kiran Mazumdar Shaw, CMD of Biocon says that Clingene & Syngene to undergo transformation in the business model and would wait for a year before listing the IPO. She also expects Pfizer revenues in the next 24-36 months.