Biotechnology major Biocon reported 19.8 percent rise in revenue to Rs 796.2 crore year-on-year and margins grew to 25.2 percent from 21.2 percent in the second quarter of FY17. The company‘s standalones sale grew 17 percent in Q2.
The company's partner FUJIFILM Pharma has launched Insulin Glargine in Japan, for which it had received Japanese regulator approval in last quarter.
These market filings have a market opportunity of USD 40 billion. In particular, Japan offers a market potential of USD 150 million for its insulin product Glargine, says Biocon's Chairman and Managing Director.
Getting approval to sell the biosimilar drug Glargine in Japan will open doors for the company, feels Kiran Mazumdar Shaw, Chairperson and Managing Director of Biocon.