- Biocon Q1 Results: Net profit declines on both quarterly and annual basis
Biocon’s result was disappointing. But there could be a hidden opportunity in it.The company’s revenue was Rs 379.62 crore for the March quarter 2011 and it fell to Rs 348.03 crore for the June quarter (Q1FY12). The resultant decrease was of 8.32% q-o-q.
- Alexandria Inc to build knowledge park in Bangalore
Alexandria Real Estate Equities Inc on Monday laid the foundation stone for a Rs 500-crore knowledge park – scientific research and development cluster – for life sciences industry in Electronic City hereI hope that this Alexandria Knowledge Park with an investment worth of Rs 500 crore will further spur the growth of biotechnology sector in the State”, the Chief Minister, BS Yeddyurappa, who laid the foundation stone, said.
- Biocon to sell majority stake in AxiCorp; Q4 net up 25%
Biocon Ltd, India’s biggest biotechnology company, agreed to sell a majority stake in its German unit AxiCorp GmbH for €40 million (`263.2 crore) because it didn’t need the company’s services to sell Biocon’s insulin products in the European nation after an alliance with the world’s biggest drug maker Pfizer Inc.The 78% stake sale is expected to be completed by May, Kiran Mazumdar-Shaw, chairman and managing director of Biocon, told reporters in Bangalore, where the company is based.
- Biocon posts 25% rise in profit for 3rd quarter
Karnataka-based Biocon Limited has posted 25 percent rise in its profit to 100.75 crore in the quarter ended Dec 31.The compnay’s sales were up by 15 percent to Rs 738 crore and its operating income grew 34 per cent to Rs 178 crore pushing up margins up to 24 per cent from 20 percent during the same period last year.
- Biocon’s oral insulin fails experiment
Biocon Ltd on Tuesday said initial data from late-stage clinical trials on its experimental oral insulin drug for diabetes did not meet the desired results, but said it was committed to the global development of the drug.In the final-stage trials being conducted in India, IN-105 did not meet its primary target of lowering HbA1c levels, or a haemoglobin count, in patients with type 2 diabetes.
- Biocon to invest $161 mn in Malaysia biotech unit
Making a big foray into the Malaysian market, biotechnology major Biocon on Wednesday said it will set up a biomanufacturing and R&D facility there with an initial investment of $161 million (about Rs 715 crore).
- Biocon Buys CIMAB SA Stake In JV
The JV was engaged in manufacturing products based on the monoclonal antibodies in their facility in Bangalore.Biocon SA, the wholly owned subsidiary of Bangalore-based biopharmaceuticals company Biocon Ltd, is acquiring around 49% stake in Biocon Biopharmaceuticals Pvt Ltd (BBPL) held by CIMAB SA, a Cuban company. CIMAB SA was a joint venture partner with Biocon, the company informed the stock exchange. The financial details of this transaction were undisclosed.
- Kiran Mazumdar-Shaw frowns on Bt Brinjal decision
Biotech entrepreneur Kiran Mazumdar-Shaw, who had earlier called for a non-political and unemotional decision on the Bt Brinjal, has now said that the Indian government’s move to put the genetically modified (GM) vegetable in the cold storage for now has sent out a ‘wrong signal’ to the industry.”This is a very wrong signal government has sent to the industry,” Ms Shaw told reporters here.
- Kiran Mazumdar-Shaw slams Bt Brinjal protests
Amid the protests across the country against the commercial introduction of Bt Brinjal, Kiran Mazumdar-Shaw, an entrepreneur in the field of Biotechnology, has called for an evaluation of the genetically modified crop, that is not restrained by emotions or political interests.Slamming the attempts to politicise the Bt Brinjal issue, the chairman of biotech major Biocon, said “I have always maintained that Bt crops need to be scientifically evaluated. It is impossible to have a sensible discussion on GM crops when it is hijacked to unsubstantiated emotional levels.”
- Why China can never beat us: Kiran Mazumdar-Shaw
I support the English language because that is our strength today. When you look at China and India, what is our biggest advantage? It’s English.If you don’t want our youngsters to benefit from global opportunities and if you want to confine them to Karnataka, then please impose Kannada language education. If you are really committed to Kannada medium education, why are the people who are opposing English sending their kids to English medium schools?
- 2009-10 Q1: Biocon net profit jumps to Rs 54 crore
Biotechnology firm Biocon Ltd on Thursday, Jul 23 reported that its net profit has jumped nearly four-fold at Rs 57.55 crore in the quarter ended Jun 30 2009.The company said that the total income was up at Rs 505.29 crore when compared to latest quarter to Rs 276.53 crore in corresponding quater in the previous fiscal.
- Budget should incentivise biotech sector: Kiran Mazumdar-Shaw
As a sunrise industry, the biotechnology sector is looking up to the national budget, to be presented in parliament by Finance Minister Pranab Mukherjee Monday, for a fillip in times of global recession and slowdown in the Indian economy.“The government must incentivise R&D (research and development), especially in the biotechnology sector by providing a tax holiday for five years on any new product developed in-house,” Biocon India chairperson Kiran Mazumdar-Shaw said.
- Q4: Biocon’s net profit dips 62 pc
Biocon, the Bangalore based biotechnology firm on Tuesday, Apr 28 posted a net profit of Rs 24.88 crore for the quarter ended Mar 31, 2009, a 62 pc decline over the same period a year ago.”(The) fiscal year ’09 has been one of our most challenging years wherein foreign currency volatility made it difficult to manage a sharply depreciating rupee resulting in large MTM losses,” said Kiran Mazumdar Shaw, the Biocon Chairman and Managing Director.
- Losses, exits roil biotech’s poster firm
Three weeks after first reporting that five of the seven external directors on the board of biotech firm Avesthagen Ltd have resigned since July 2007, Mint has discovered that more top executives and directors have exited the biotech firm, and its latest audited balance sheet shows signs of financial strain.
Firm was set up in 1998 and has since received many venture capital fundsSome of the senior executives and directors to have left the company are: Samaresh Parida, chief operating officer; J. Rajagopalan, chief financial officer; Sandip Dang, chief executive of Avesta Good Earth Foods Pvt. Ltd, one of the 12 subsidiaries of Avesthagen; Deepak Mullick, director of the bio-agriculture division; Narayan Seshadri, additional director from the private equity firm Halcyon Group; Emmanuel Rougier, director from the French seed firm Groupe Limagrain; and Jochen Ebert, director from the French food and dairy company Groupe Danone. Danone and Limagrain have invested in Avesthagen.
- Biotech firm raises $10 mn from PE fund
Bangalore-based Cellworks Group Inc., which also has an office in California, has raised about $8-10 million (Rs41.44-51.80 crore) from a California private equity (PE) investor, details of which will be announced in the next few weeks, says its co-founder and chief executive Taher Abbasi.Still, in a financing environment that is getting more challenging by the day, if an Indian biotechnology start-up raises close to $10 million in private equity it doesn’t necessarily signal an uptick in the biotech fortunes, rather this sets it apart from the rest as many of them begin to look for government money.
- PE firms pass up start-up pharma cos
Start-up health care and drug technology firms are struggling to attract funding as venture capital and private equity firms shy away from high-risk projects with long gestation periods in the wake of the global economic downturn.
- Biocon Q2 net profit down 54 per cent
Biotechnology firm Biocon on Thursday, Oct 16 announced a consolidated net profit of Rs 25.02 crore for the second quarter ended September 30 compared to 53.97 crore in FY08 due to rupee volatility. It saw a decline of 54 per cent from year-ago period.Biocon informed the Bombay Stock Exchange that its net sales rose to Rs 439.30 crore for the quarter under review, from Rs 263.66 crore last year. On a standalone basis, Biocon posted a net profit of Rs 33.53 crore for the quarter ended September 30, compared with Rs 44.01 crore for the same period last year. Total Income of the company increased to Rs 268.27 crore for the second quarter this fiscal from Rs 241.32 crore a year ago.
- Biocon to buy US firm for $400 mn
After gaining a foothold in the European market with the acquisition of German drug marketing firm AxiCorp GmbH in February, India’s Biocon Ltd now has set its sights on the US pharma distribution market with a deal valued at about $400 million (Rs1,595 crore).The Bangalore-based biotech firm has been scouting for an acquisition in the US that will sell its pharmaceutical products such as generics, biosimilars and biologics in the world’s largest drug market.
- Biocon to acquire Germany-based firm for Rs173 cr
Biotech major Biocon on Monday said it will acquire a majority stake in a Germany-based pharmaceutical company for about 30 million Euros (over Rs173 crore).Biocon said in a filing to the Bombay Stock Exchange that it has entered into an agreement to acquire the company AxiCorp GmbH, for making it a subsidiary of the former.
- Biocon’s revenue up by 21 pc in 2007-08 Q3
The city-based Biocon Limited’s consolidated revenues surged by 21 per cent to Rs 811 crore after excluding the Enzymes business, in the third quarter ending December 31, against the corresponding period last year.Consolidated Operating Profits (EBITDA) increased by 20 per cent to Rs 240 crore. Profit after Tax (PAT) touched Rs 160 crore, which is a 15 per cent rise, BIOCON said in a release here today. The third quarter of the current fiscal registered a one time exceptional pre-tax gain of Rs 330 crore attributable to the divestment of the Enzymes business.
- Biocon to market drug for breast cancer
Biotechnology major Biocon Ltd has announced that it had received the approval to market ABRAXANE, an injectable suspension, in India for the treatment of breast cancer.Talking to newspersons here, after announcing the half yearly results of the company yesterday, CMD Kiran Mazumdar-Shaw said the drug manufactured by Abraxis BioScience Inc of the US had been approved by the country’s Drug Controller General.
- Biocon reports PAT of Rs 107 crore in H12007-08, Revenue Rs 553 cr
Reporting a 27 per cent growth in net profit, biotech major Biocon Limited today annmounced a revenue of Rs 553 crore and a net profit of Rs 107 crore for the first half of the current fiscal.Consolidated Revenues grew by 19 per cent over the same period in the previous year. Research Services (Syngene) continued to deliver a robust dollar denominated growth of 60 per cent and an impressive 43 per cent based on Rupee realisation. Profit was restrained by rupee appreciation, the Company said in a release..
- Bioscience Park to come up in Electronic City
The Silicon volley of India, Bangalore will add another feather to its cap when Bio-Science Park built at a cost of USD 120 Million comes up in the Electronic City here.Karnataka government would shortly issue the work order to US-based Alexandria Real Estate Equities Inc, which specialises in medical and science laboratories, to build the Bioscience Park.
- Indian Biotech exports up by 47per cent
The Indian Biotech industry gaining worldwide recognition posted a export revenue of Rs 4,937 crore (USD 1.2 billion) in Fiscal 2007, growing by 47 per cent over the previous year.The Industry which notched up a total revenue of Rs 8541 crore saw 27 per cent of it being contributed by top three biotech companies–Pune based Serum Institute (Rs 951 crore), Bangalore head quartered Biocon (Rs 823 crore) and the New Delhi based Panacea Biotech (Rs 600 crore). This was revealed by the fifth industry survey conducted by speciality magazine BioSpectrum of the CyberMedia Group along with the Association of Biotechnology Led Enterprises (ABLE).
- Proj to boost agribiotech on cards by Centre
The Union Department of Biotechnology is contemplating a massive boost to Agribiotech taking up a huge project worth over Rs.1000 crore to give a fillip to stagnant agricultural production.
- Bangalore Bio to showcase India’s biotech progress
Complementing the rapid growth of the IT industry in India’s silicon city, the emerging biotechnology (BT) sector will look for investments through partnerships and joint ventures at Bangalore Bio 2007, the three-day annual event beginning Thursday.
- Importing trained talent is a costly affair: Kiran
The booming biotech industry was currently suffering from a lack of trained manpower and had been forced to resort to importing talent, which was proving to be a very expensive affair, Chairman and Managing Director Biocon Ltd, Kiran Mazumdar Shaw said.
- Biotech industry to set up finishing schools
Facing an acute shortage of trained manpower, the Biotech industry in the country is now contemplating joining academic institutions to set up finishing schools to tone up the skills of graduates.The first such venture would be with a local educational group People’s Education Society, Karnataka Biotechnology Vision Group Chairperson Kiran Mazumdar Shaw told newspersons here today.
- Leading Asia-Pacific Biotech meet on June 7
Growing in size and strength every year, the premier Biotech event of the country, Bangalore Bio 2007 will kick off here on June seven with over 150 companies from 12 countries participating in the much sought after event of the Asia Pacific region.
- Chidambaram to inaugurate Bangalore Bio 2007
Union Finance Minister P Chidambaram will inaugurate the seventh edition of Bangalore Bio 2007 to be held here from June Seven to Nine.
- Preparation in full swing for ‘Bangalore Bio 2007’
Key issues which determines the future of Biotechnology industry will be dealt in detail during the Seventh edition of India’s biggest biotech event Bangalore Bio 2007, to be held in the city from June seven to nine.‘Think BIG, Think Biotechnology, Think Innovation, Think Growth’ would be the focal theme of the this year’s mega event. A Conference titled ‘Accelerating BT Industry growth through Integrated Innovation,’ would be held during the three-day event.
- Biocon declares 25pc increase in turnover for 2007
Biotech major Biocon today reported a 25 per cent increase in its turnover for Fiscal 2007 at Rs 990 crore with net profit up by 15 per cent at Rs 200 crore. The Board which met here today also recommended a 60 per cent dividend (Rs three per share).
- Biocon subsi ties up with Bristol-Myers Squibb
Integrated biotechnology firm Biocon on Wednesday said its subsidiary Syngene has entered into a research partnership with global pharma major Bristol-Myers Squibb.Through this symbiotic global partnership, Biocon’s Syngene would provide research and development (R&D) services for discovery and early drug development.
- Biocon forays into nephrology space
Biotechnology major Biocon on Thursday forayed into the nephrology space with the launch of a portfolio of five renal therapy products for the domestic and global markets, which it said was cheaper compared to MNC drug prices.
- Biotech Industry face manpower shortage
The flourishing Biotech industry, which witnessed a astounding growth rate of more than 30 per cent during the last three years, might face a break in its accelerated growth with manpower shortage acting as a spoilsport growth.
- Bangalore Bio 2007 to focus on innovation, growth
Bangalore Bio-2007, the country’s flagship biotech event promoted by Karnataka Government to be held between June seven to nine here, would have a focal theme titled ‘Think Big’ that focusses on innovation and growth of the emerging sector.
- Biocon’s Shaw looks at acquisitions in IPRs, marketing
Biocon Ltd is going to focus on acquisitions abroad purely for strategic reasons in either intellectual property assets or for marketing and distribution. Speaking to ET.com, Kiran Mazumdar-Shaw, CMD of Biocon, specified that for her company, the M&As will essentially be based on a strategic reason. She pointed out that Indian companies had different reasons for acquiring a global company, but said very few companies today are doing it simply for expanding the footprint.
- Biocon to invest dollar 10 mn on expansion
Leading biotech firm, Biocon Ltd, on Tuesday said it will invest $10 million (about Rs 45 crore) in the next 12 months to expand its facilities.
- Biocon may launch new anti-arthritis drug
Leading biotech company, Biocon Limited on Monday said it expects to launch a new anti-arthritis drug in the next 3-4 years in the market, which could prove to be a multi-billion dollar opportunity for the company.
- A biotech park soon
Bangalore’s tech status is set to receive yet another shot in the arm with the state government deciding to wrap up work on the first phase of the biotechnology park in nine months’ time.
- Biocon reports robust first half 2006 results
Biotech major Biocon today reported a robust growth in the first half of the current fiscal, with revenues crossing Rs 463 crore and profit after tax touching Rs 84 crore. Company Chairperson Kiran Mazumdar Shaw told newspersons here that the consolidated sales of the group grew by 23 per cent, with the PAT margin registering a healthy 18 per cent increase.
- Biocon signs agreement with Bayer
Biotech major Biocon Limited announced on Wednesday a licensing agreement with multinational healthcare corporation Bayer HealthCare (BHC) for exclusive marketing and trademark rights for INSUGEN, a recombinant human insulin, for the Chinese market.
- Biocon to market cancer drug in India
India’s largest biotechnology firm, Biocon Ltd. , said on Wednesday the Drug Controller General of India had granted approval to market its BIOMAb EGFR treatment for head and neck cancer in India.
- Serum beats Biocon to become top biotech company
The 4th BioSpectrum-ABLE Biotech Industry Survey done in April-May 2006 shows that the industry has attained the critical momentum and is bullish. For the third year in a row, the industry has clocked growth in excess of 35 percent. In 2005-06, the industry grew by 37.42 percent to record $ 1.45 billion (Rs 6,521 crore) in revenue. The industry recorded 36.5 percent growth to cross the $ 1 billion in 2004-05.
- BT business turnover surges up 35 pc: Biocon
Notwithstanding the perceived lack of medical infrastructure, the business turnover in the biotechnology sector of the country crossed over 1.5 billion US Dollar during 2005-06, registering a 35 per cent growth over the previous year, BT major Biocon Ltd Chairperson and Managing Director Kiran Mazumdar-Shaw informed today.
- Sibal calls for greater investment in drug development
Union minister for Science and technology Kapil Sibal said the government was committed to help the biotech industry in developing new drug through public-private partnership and urged the industry to invest in drug development in a big way.
- India emerging player in Biotech
The United Kingdom, which has a strong base for life sciences and Bio-sciences, will offer a greater opportunity to work in tandem with the Indian scientists who have won accolodes at the global level in the field of Biotechnology and its related areas, Sir, Michael Arthur, British High Commissioner to India, said here today.
- Biotech sector to generate 1 mln jobs by 2010: Kiran Mazumdar
Bangalore, June 6 (UNI) The bio-technology sector in the country is expected to generate over a million jobs in agriculture, pharmaceutical and medical segments by 2010, BT major Biocon India Chairperson and Managing Director Kiran Mazumdar-Shah said today. Briefing newspersons before the sixth edition of the three-day international mega event Bio-2006 from June seven here, she said the sector had the potential to touch business worth over five billion dollars by 2010.
- Karnataka Cabinet approves setting up of Bio Tech Park
The Karnataka Cabinet today approved setting up of a Bio Tech Park at a cost of Rs 103 crore, Minister for Transport Chaluvarayaswamy said today. Briefing newspersons after a Cabinet meeting here, he said that Buildings would be constructed for Institute of Bioinformatics and Applied Biotechnology (IBAB) and the Center for Human Genetics (CHG) and Administrative Building for Karnataka Biotech Training Society (KBITS), which are currently functioning in rented buildings.
- Germany to scout partners at Bangalore Bio
India’s leading biotechnology show, Bangalore Bio, commencing its sixth edition on June seven, will see leading players in the field from Germany seeking partners in India during the Business-to-Business event.
- Biocon seeks DCGI approval for drug
Biotechnology major Biocon Ltd will seek Drug Controller General of India’s approval for its novel monoclonal anti indicated towards the treatment of head and neck cancer, Biomab EGFR.
- Pricing pressure knocks off 12% from Biocon bottom line
Pricing pressure, impact of higher taxes and depreciation has knocked off 12per cent from Biocon’s bottomline for fiscal 2005-06. The country’s only listed biotech entity on Thursday reported a net profit of Rs 174 crore on a consolidated basis as against Rs 198 crore in the previous fiscal, a drop of 12per cent.
- Biocon files cancer drug Biomab with the DCGI
The Bangalore-headquartered biotech major Biocon has made a filing with the Drug Controller General of India seeking okay for its latest anti-cancer drug Biomab EGFR, which is a monoclonal anti- for the treatment of cancer in head and neck.
- Biocon faces probe on drug import
- Biotechnology is future of India: Thimmappa
- Biocon readies EU plans for insulin
- BT industry shuns BU graduates
- Biocon set to hire 2,000 more in 2 years
- Bangalore biotech park work to begin in June
- Biocon plans foray into oncology, to launch new molecule Theracim
- German genomics major MWG sets shop in Bangalore
- Karnataka blares BT, mum on IT
- AstraZeneca to scale up Indian business in Bangalore
- Biocon chief outlines path to global recognition
- Biocon becomes billion-dollar company on listing day
- Biocon issue oversubscribed 27 times
- Biocon plans new unit for Cuban JV
- Biocon a good buy, but expensive: Analysts
- Bangalore: Silicon Valley or Coolie Valley?
- Biocon IPO priced at Rs 270-315
- BioSpectrum Awards 2003
- Karnataka to float biotech fund to rope in VCs
About Biotech in Karnataka.