Bengaluru (Karnataka) [India], November 15 (ANI/NewsVoir): Biocon Ltd. (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceuticals company, today announced its consolidated financial results for the second quarter ended September 30, 2022. Leadership Comments Biocon Group "We reported a strong consolidated revenue growth of 23 per cent YoY for Q2FY23 at Rs. 2,384 Crore driven by 34 per cent growth in Biosimilars, 26 per cent in Research Services and 18 per cent in the Generics business. Our Gross R&D spends increased by 52 per cent YoY this quarter to Rs. 252 Crore reflecting our advancing pipeline that will drive our future growth. Core EBITDA was up by 34 per cent at Rs. 816 Crore, representing healthy core operating margins of 35 per cent versus 33 per cent in the same quarter last year. "We have delivered a resilient performance in H1FY23, with all segments delivering strong revenue growth. We expect to consolidate on this performance in the second half of FY23. Enhanced capacities and new launches will drive growth for our API and Generic Formulations business, while continued business momentum should help Syngene achieve its guidance for the full year. "The consolidation of Viatris' global biosimilars business and the strategic vaccines alliance with Serum Institute will add to the growth of the Biosimilars business in H2FY23. We have secured necessary financing and obtained relevant approvals for the Viatris transaction, which is expected to close shortly." - Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics. Biocon Generics "I am pleased with the sequential as well as YoY growth of the Generics business in Q2, on the back of the stabilization of our API business, with immunosuppressants being a significant contributor. Our statins portfolio continued to encounter pricing pressures. "Our Generic Formulations business delivered a healthy performance in the quarter, with both base business as well as new product launches gaining traction. The business also secured several key approvals for our vertically integrated products in the EU and the rest of the world (RoW) markets, providing further impetus to our geographical expansion plans in the quarters ahead. - Siddharth Mittal, CEO & Managing Director, Biocon. Biocon Biologics "Biocon Biologics maintained a healthy operating performance in Q2FY23 with revenues increasing 34 per cent YoY to Rs. 997 Crore, driven by higher sales of our biosimilar insulins and antibodies in advanced and emerging markets. We have seen an uptick in new prescription share for Semglee and volume market share for Fulphila in the U.S. Core EBITDA at Rs. 449 Crore was up 48 per cent YoY, representing strong margins of 46 per cent. R&D investments at Rs. 184 Crore, an increase of 142 per cent YoY, reflects the good progress of our pipeline laying the foundation for future growth of our business. "In preparation for a direct commercial presence in the advanced markets, we have made key leadership appointments this quarter. We believe the conclusion of the strategic transactions with Viatris and Serum Institute, expected to be closed in Q3FY22, will position Biocon Biologics as a fully integrated, leading global biosimilars player." - Dr Arun Chandavarkar, Managing Director, Biocon Biologics. Syngene "Our performance in the first half of the year was good. We started the year with strong momentum and delivered a robust first quarter. Performance in the second quarter was ahead of market expectations. All our divisions performed well and revenue from operations grew by 26 per cent. We continue to see good demand for our services, which has helped us deliver strong revenue growth and puts us on a solid track for the rest of the year." - Jonathan Hunt, CEO & Managing Director, Syngene. Awards & Recognitions Biocon (including Biocon Biologics) improved its ESG score to 52 from 45 in the previous year in the 2022 S&P Global Corporate Sustainability Assessment released in October on the back of key initiatives undertaken during the past year. Biocon (including Biocon Biologics) has been named among the Top 10 global employers in the biotech, pharma and biopharma sectors by the U.S.-based prestigious Science magazine. Biocon has been in the Top 20 global biotech employers ranking since 2012. Biocon Biologics has been recognized for world class Intellectual Property (IP) management and IP value creation in the Asia-Pacific region and included on the prestigious Asia IP ELITE list for 2022. Financial Highlights (Consolidated): Q2FY23 In Rs Crore Figures above are rounded off to the nearest Crore; per cent based on absolute numbers. #Includes Licensing income. *Core EBITDA is EBITDA net of R&D expense, licensing, forex, dilution gain in Bicara, mark-to-market movement on investments. ^ Exceptional items during Q2 FY23 comprise MAT credit balance charge of Rs. 107 Cr on adoption of new tax regime of 25 per cent and Professional fees, net of tax of Rs. 14 Cr towards the Viatris deal Corporate Updates Tribute to John Shaw, Former Vice Chairman of Biocon John Shaw, former Vice Chairman of Biocon and husband of our Chairperson, Kiran Mazumdar-Shaw, passed away on October 24, 2022, in Bengaluru. As a key member of the Board and the management team of Biocon since 1999, John Shaw has contributed majorly to the transformation of Biocon into a globally recognized, innovation-led biopharmaceutical company. In his 22 years with Biocon, he played a very important role in building the Company, ensuring the highest levels of corporate governance, as well as contributing to the financial and strategic development of the Biocon Group. He retired from the Board of Directors of Biocon on July 23, 2021, due to health reasons. John Shaw was a man who stood tall with his values and inspired many. He was a very benevolent, erudite and a compassionate person who truly believed in philanthropy to make this world a better place. John Shaw's vision for Biocon will continue to guide us towards our purpose of enabling equitable access to healthcare worldwide. Board Appointment Biocon has appointed Peter Bains as Additional Director (Category - Independent) to its Board, subject to the completion of necessary formalities under the Companies Act. He has over three decades of experience in biopharmaceuticals, with a successful track record of building brands, businesses, teams and companies. Peter currently serves as a Non-Executive Director on the Board of Indivior PLC, a UK FTSE-listed pharmaceuticals company, as well as MiNA Therapeutics and Apterna, both privately held UK biotech companies. Biocon Improves its 2022 ESG Score Biocon (including Biocon Biologics) improved its ESG score to 52 from 45 in the previous year in the recently released S&P Global Corporate Sustainability Assessment report. This was accomplished on the back of key initiatives undertaken during the past year, leading to improvement in our Environmental, Social and Governance (ESG) practices, details of which were published in Biocon's Sustainability Report 2022, which is available on www.biocon.com ESG is at the core of our business purpose and responsibility. By serving patients, protecting the environment and promoting business integrity, we are reinforcing our commitment to building an equitable and viable future. Business Highlights GENERICS: APIs & Generic Formulations Q2FY23 revenue at Rs. 623 Crore, up 18 per cent (YoY) from Rs. 530 Crore in Q2FY22. Business Performance During the quarter we launched two important products Sitagliptin and Vildagliptin in the EU, enabled by the brownfield capacity expansions undertaken at our Bengaluru and Visakhapatnam facilities. The Company also received five product approvals across markets. In the EU, we obtained three approvals, for Posaconazole, our vertically integrated anti-fungal drug; Lenalidomide, an oncology product, and for Everolimus, used in the treatment of certain types of cancers and tumors. In the UK, we received an approval for Posaconazole. We also received approvals in the UAE
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Q2fy23 At Rs 2 , 384 Crore Driven By 34 Per Cent Growth In Biosimilars , 6 Per Cent In Research Services And 18 The Generics Business Our Grossr Ampd Spends Increased By 52 Yoy This Quarter To Rs 252 Crore Reflecting Advancing Pipeline That Will Drive Future Growth Core Ebitda Was Up 34 At 816 , Epresenting Healthy Core Operating Margins Of 35 Per Cent Versus 33 In The Same Quarter Last Year Quot We Have Delivereda Resilient Performance H1fy23 , Ith All Segments Delivering Strong Revenue Growth We Expect To Consolidate On This Performance In The Second Half Of Fy23 Enhanced Capacities And New Launches Will Drive For Our Api Generic Formulations Business , Hile Continued Business Momentum Should Help Syngene Achieve Its Guidance For The Full Year Quot Consolidation Of Viatris 39 Global Biosimilars And Strategic Vaccines Alliance With Serum Institute Will Add To Growth In H2fy23 We Have Secured Necessary Financing Obtained Relevant Approvals Transaction , Hich Is Expected To Close Shortly Quot Kiran Mazumdar Shaw , Iocon And Biocon Biologics Generics Quoti Am Pleased With The Sequential As Well Yoy Growth Of Business In Q2 , N The Back Of Stabilization Our Api Business , Ith Immunosuppressants Beinga Significant Contributor Our Statins Portfolio Continued To Encounter Pricing Pressures Quot Generic Formulations Business Delivereda Healthy Performance In The Quarter , Ith Both Base Business As Well New Product Launches Gaining Traction The Also Secured Several Key Approvals For Our Vertically Integrated Products In Eu And Rest Of World Row Markets , Roviding Further Impetus To Our Geographical Expansion Plans In The Quarters Ahead Siddharth Mittal , Ceo Amp Managing Director , Iocon Biocon Biologics Quot Maintaineda Healthy Operating Performance In Q2fy23 With Revenues Increasing 34 Per Cent Yoy To Rs 997 Crore , Riven By Higher Sales Of Our Biosimilar Insulins And Antibodies In Advanced Emerging Markets We Have Seen An Uptick New Prescription Share For Semglee Volume Market Fulphila The Us Core Ebitda At Rs 449 Crore Was Up 48 Per Cent Yoy , Epresenting Strong Margins Of 46 Per Centr Ampd Investments At Rs 184 Crore , N Increase Of 142 Per Cent Yoy , Eflects The Good Progress Of Our Pipeline Laying Foundation For Future Growth Business Quot In Preparation Fora Direct Commercial Presence Advanced Markets , E Have Made Key Leadership Appointments This Quarter We Believe The Conclusion Of Strategic Transactions With Viatris And Serum Institute , Xpected To Be Closed In Q3fy22 , Ill Position Biocon Biologics Asa Fully Integrated , Eading Global Biosimilars Player Quot Dr Arun Chandavarkar , Iocon Biologics Syngene Quot Our Performance In The First Half Of Year Was Good We Started With Strong Momentum And Delivereda Robust Quarter Second Ahead Market Expectations All Divisions Performed Well Revenue From Operations Grew By 26 Per Cent Continue To See Demand For Services , Hich Has Helped Us Deliver Strong Revenue Growth And Puts Ona Solid Track For The Rest Of Year Quot Jonathan Hunt , Yngene Awards Amp Recognitions Biocon Including Biologics Improved Its Esg Score To 52 From 45 In The Previous Year 2022s Ampp Global Corporate Sustainability Assessment Released October On Back Of Key Initiatives Undertaken During Past Has Been Named Among Top 10 Employers Biotech , Harma And Biopharma Sectors By The Us Based Prestigious Science Magazine Biocon Has Been In Top 20 Global Biotech Employers Ranking Since 2012 Biologics Recognized For World Class Intellectual Property Ip Management Value Creation Asia Pacific Region Included On Elite List 2022 Financial Highlights Consolidated Q2fy23 Rs Crore Figures Above Are Rounded Off To Nearest Per Cent Absolute Numbers Includes Licensing Income Core Ebitda Is Net Ofr Ampd Expense , Icensing , Forex , Ilution Gain In Bicara , Ark To Market Movement On Investments Exceptional Items During Q2 Fy23 Comprise Mat Credit Balance Charge Of Rs 107 Cr Adoption New Tax Regime 25 Per Cent And Professional Fees , Et Of Tax Rs 14 Cr Towards The Viatris Deal Corporate Updates Tribute To John Shaw , Ormer Vice Chairman Of Biocon John Shaw , Ormer Vice Chairman Of Biocon And Husband Our Chairperson , Assed Away On October 24 , 022 , N Bengaluru Asa Key Member Of The Board And Management Team Biocon Since 1999 , Ohn Shaw Has Contributed Majorly To The Transformation Of Biocon Intoa Globally Recognized , Nnovation Led Biopharmaceutical Company In His 22 Years With Biocon , E Playeda Very Important Role In Building The Company , Nsuring The Highest Levels Of Corporate Governance , S Well As Contributing To The Financial And Strategic Development Of Biocon Group He Retired From Board Directors On July 23 , 021 , Ue To Health Reasons John Shaw Wasa Man Who Stood Tall With His Values And Inspired Many He Very Benevolent , Rudite Anda Compassionate Person Who Truly Believed In Philanthropy To Make This Worlda Better Place John Shaw 39s Vision For Biocon Will Continue Guide Us Towards Our Purpose Of Enabling Equitable Access Healthcare Worldwide Board Appointment Has Appointed Peter Bains As Additional Director Category Independent Its , Ubject To The Completion Of Necessary Formalities Under Companies Act He Has Over Three Decades Experience In Biopharmaceuticals , Itha Successful Track Record Of Building Brands , Businesses , Eams And Companies Peter Currently Serves Asa Non Executive Director On The Board Of Indivior Plc , A Uk Ftse Listed Pharmaceuticals Company , S Well As Mina Therapeutics And Apterna , Oth Privately Held Uk Biotech Companies Biocon Improves Its 2022 Esg Score Including Biologics Improved To 52 From 45 In The Previous Year Recently Releaseds Ampp Global Corporate Sustainability Assessment Report This Was Accomplished On Back Of Key Initiatives Undertaken During Past , Eading To Improvement In Our Environmental , Ocial And Governance Esg Practices , Etails Of Which Were Published In Biocon 39s Sustainability Report 2022 , Hich Is Available On Www Biocon Com Esg At The Core Of Our Business Purpose And Responsibility By Serving Patients , Rotecting The Environment And Promoting Business Integrity , E Are Reinforcing Our Commitment To Building An Equitable And Viable Future Business Highlights Generics Apis Amp Generic Formulations Q2fy23 Revenue At Rs 623 Crore , P 18 Per Cent Yoy From Rs 530 Crore In Q2fy22 Business Performance During The Quarter We Launched Two Important Products Sitagliptin And Vildagliptin Eu , Nabled By The Brownfield Capacity Expansions Undertaken At Our Bengaluru And Visakhapatnam Facilities Company Also Received Five Product Approvals Across Markets In Eu , E Obtained Three Approvals , Or Posaconazole , Ur Vertically Integrated Anti Fungal Drug Lenalidomide , N Oncology Product , Nd For Everolimus , Sed In The Treatment Of Certain Types Cancers And Tumors Uk , E Received An Approval For Posaconazole We Also Approvals In The Uae ,
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