Biocon Q3 net profit up 9% at Rs 93 crore

Jan 25 2013, 13:46 IST
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Biocon Chairman and Managing Director Kiran Mazumdar-Shaw.  (Reuters) Biocon Chairman and Managing Director Kiran Mazumdar-Shaw. (Reuters)
SummaryNet sales of the company rose to Rs 634.22 crore for the third quarter.

a strategic partnership which will help us undertake targeted global trials under a US IND (investigational new drug). BMS has the right to exercise an option for exclusive worldwide license post the completion of these trials," the company said.

On future outlook, the company said it aims to have higher contribution from biosimilars, research services and branded formulations to the overall revenue.

".. We continue discussions with potential partners for taking our insulins and novel portfolio to the global markets," it added.

In a separate statement, the company said Shaw has been appointed on the Board of Trustees of the US Pharmacopeial Convention (USP), which is a scientific non-profit organisation.

USP develops standards for the identity, strength, quality and purity of medicines, medicinal ingredients, botanical medicinal ingredients, dietary supplements, food ingredients and compounded medicines manufactured, prepared, distributed and consumed worldwide.

"She will be guiding USP policies, finances and strategic direction as well as will serve as a member of USP Biologics Advisory Group," the company said.

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