Biocon Limited , a leading biopharmaceutical company, has reported a strong start with a 15% year-on-year growth in operating revenue for the first quarter. The company's performance was driven by accelerated growth in biosimilars, continued growth in Contract Research, Development, and Manufacturing Operations (CRDMO), and steady performance in generics.

Financial Highlights

Segment Performance

Biosimilars

• Revenue up 18% year-on-year at INR 2,458.00 crores
• EBITDA increased 36% year-on-year on a like-for-like basis at INR 645.00 crores
• EBITDA margin, excluding Forex and other items, was at 24% with approximately 300 basis points year-on-year expansion

Generics

• Revenue from operations at INR 697.00 crores, up 6% year-on-year
• Product sales grew 13% year-on-year
• R&D spend was at INR 70.00 crores or 10% of segment revenue

CRDMO (Research Services)

• Revenue of INR 875.00 crores, up 11% year-on-year
• EBITDA of INR 224.00 crores, up 19% year-on-year with a 25% margin

Key Developments

1. Successful QIP Completion: Biocon completed a qualified institutions placement (QIP) of INR 4,500.00 crores, marking its first equity raise since the company's IPO in 2004. The offering was oversubscribed and received strong interest from global and domestic institutional investors.

2. Regulatory Milestones:

   • U.S. FDA approved Kirsty™, Biocon's biosimilar Insulin Aspart, as the first and only interchangeable rapid-acting insulin in the U.S.
   • Launched biosimilar Aflibercept, Yesafili™, in Canada
   • Secured approvals for biosimilar Denosumab from both the European Commission and U.K. MHRA

3. Facility Expansions:

   • Commissioned a new injectables facility focused on GLP-1s, with commercial supply expected in FY27
   • Syngene inaugurated a state-of-the-art Peptide laboratory

4. Sustainability Recognition:

   • Received a Gold rating in the EcoVadis Corporate Sustainability Assessment
   • Syngene recognized by Time Magazine and Statista as one of the world's most sustainable companies

Outlook

Biocon's management expressed confidence in the company's growth trajectory, citing the strong performance across all three business segments. The biosimilars business is well-positioned to build on its momentum with recent launches and approvals expected to fuel accelerated growth. The CRDMO segment continues to benefit from favorable demand trends, while the generics business is gaining traction with its investments in GLP-1s and peptide APIs.

The company's successful QIP has strengthened its financial position, enabling it to increase its stake in Biocon Biologics and reduce exposure to structured equity investments. This move is expected to reinforce Biocon's strategic focus on the biosimilars opportunity ahead.

With multiple product launches planned in the coming quarters, Biocon anticipates strong double-digit growth for the full year, supported by its expanding global manufacturing and commercial footprint.

Investor Meetings

Biocon has announced that its management is scheduled to meet with analysts and institutional investors from August 20 to August 22 in Mumbai. These meetings will not disclose any unpublished price-sensitive information and are subject to change due to exigencies.

As Biocon continues to strengthen its position in the global biopharmaceutical market, investors and industry observers will be keenly watching the company's progress in executing its growth strategy and capitalizing on the expanding biosimilars opportunity.

Biocon Limited , a leading biopharmaceutical company, held its 47th Annual General Meeting (AGM) on August 8, 2025, where shareholders approved significant board re-appointments. The meeting, conducted through video conferencing, saw the re-election of two prominent directors, reinforcing the company's leadership structure.

Key Re-appointments

Shareholders gave their nod to the re-appointment of Prof. Ravi Rasendra Mazumdar as a Director liable to retire by rotation. Prof. Mazumdar, who serves as a University Research Chair Professor at the University of Waterloo, Canada, brings valuable academic and research expertise to Biocon's board. Notably, he is the father of Eric Vivek Mazumdar and the brother of Kiran Mazumdar-Shaw, Biocon's Executive Chairperson.

In another significant move, Ms. Naina Lal Kidwai secured re-appointment as an Independent Director for a second term of five consecutive years, extending from August 8, 2025, to August 7, 2030. Ms. Kidwai's re-election underscores the company's commitment to maintaining strong corporate governance. Her extensive experience includes her current role as Chairperson and Senior Advisor of Rothschild & Co India, as well as board positions in several prominent companies such as Holcim SA, Gland Pharma Limited, Nayara Energy Limited, and UPL Limited.

Corporate Governance and Compliance

Biocon emphasized that both re-appointed directors have not been debarred from holding directorship positions by the Securities and Exchange Board of India (SEBI) or any other regulatory authority. This affirmation highlights the company's adherence to regulatory compliance and corporate governance standards.

AGM Proceedings

The 47th AGM, held virtually, covered a range of important matters beyond the director re-appointments. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, delivered a comprehensive speech highlighting the company's performance and strategic initiatives.

Key points from the Chairperson's address included:

• Biocon's focus on 'Accelerating Reach' to expand access to essential medicines globally
• Strategic capital investments made in FY25 to support long-term growth
• Expansion of manufacturing capacity and enhancement of R&D capabilities
• Strong performance in the Biosimilars business, which grew by 15% year-on-year
• Launch of generic Liraglutide in the UK, marking Biocon's entry into the 'diabesity' therapeutic area
• Approval of Biosimilar Insulin Aspart as an Interchangeable product in the U.S.
• Successful fundraising efforts, including a ₹4,500 crore Qualified Institutions Placement (QIP)

Financial Highlights

The AGM also touched upon Biocon's financial performance for Q1 FY26:

Future Outlook

Biocon's management expressed confidence in the company's growth trajectory, citing recent product launches, approvals, and strategic investments. The company remains focused on scaling commercialized products, deepening its presence in key markets, and preparing for future launches to drive sustainable and profitable growth.

The re-appointment of experienced directors like Prof. Mazumdar and Ms. Kidwai, coupled with the company's strong financial performance and strategic initiatives, positions Biocon to continue its mission of expanding access to life-saving medicines globally while creating long-term value for stakeholders.