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Biopharmaceutical major Biocon Ltd has posted a nearly 19 per cent dip on a year-on-year (YoY) basis in its consolidated net profit at Rs 186.6 crore for the third quarter of FY21, owing to its generics business taking a hit along with headwinds across operational, regulatory and commercial functions. The third quarter of the last financial year had seen the Bengaluru-headquartered company post a net profit of Rs 230.3 crore. Biocon s consolidated revenue for Q3 of FY21 increased by 7.20 per cent at Rs 1878.9 crore as against Rs 1752.6 crore for the said quarter last year. The company s consolidated revenue growth came on the back of a 13 per cent rise in research services and 11 per cent in biosimilar business segments on a YoY basis, along with core earnings before interest, tax, depreciation and amortization (EBITDA) margins of 31 per cent, said Biocon s executive chairperson Kiran Mazumdar-Shaw.
ADQ invests Rs 555 Cr in Biocon Biologics biospectrumindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biospectrumindia.com Daily Mail and Mail on Sunday newspapers.
Biopharmaceutical major Biocon said on Thursday the board of its subsidiary Biocon Biologics has approved a capital injection of $75 million from Abu Dhabi-based ADQ. According to the terms of the proposed agreement, ADQ will get a 1.8 per cent stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of $4.17 billion. “This investment is an endorsement of the value that the Biocon Biologics business has built as a fully integrated pure-play biosimilars company and will enable us to expand our capabilities further. We are committed to pursue our affordable innovation model to generate savings for the healthcare systems worldwide,” said Kiran Mazumdar-Shaw, Executive Chairperson, Biocon.
Biocon Biologics gets Rs 555 crore capital injection from ADQ ANI | Updated: Jan 07, 2021 18:19 IST
Bengaluru (Karnataka) [India], Jan 7 (ANI): Abu Dhabi-based ADQ will invest Rs 555 crore for 1.8 per cent minority stake in Biocon Biologics, valuing it at a post money valuation of 4.17 billion dollars (about Rs 30,482 crore).
Post the completion of transaction, Biocon Ltd will hold 89.89 per cent stake in Biocon Biologics on a fully diluted basis. This investment is an endorsement of the value that Biocon Biologics business has built as a fully integrated pure-play biosimilars company and will enable us to expand our capabilities further, said Kiran Mazumdar-Shaw, Executive Chairperson of Biocon.