Biocon

Thanks to the listing of its subsidiary, Syngene International, Biocon, for Q2FY16 posted a 200% (YoY0 jump in net profit at Rs.306 crore. Of this, Rs.203 crore came in from 11% stake sale in Syngene. And if we remove this windfall gain, the net profit from pure business activities was at Rs.103 crore v/s Rs.102 crore in Q2FY15. Thus it was actually a flat quarter for  Biocon; it was Syngene listing which added the fizz. Topline rose 11% at Rs.828 crore and this was driven mainly by R&D services from global pharma companies while slower offtake of APIs led to a 4% decline in biopharma business. T

The company has stated that clinical advancement of five of its Biosimilars programs has put it on track for regulatory filings for some of these in the US and Europe in FY17. It expects clinical progress in Biosimilars and Novels to augur well for the company, going forward.