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“This is to inform you that Biocon Pharma Limited, a wholly owned subsidiary of the company, has received approval for Tacrolimus capsule in 0.5mg, 1mg and 5mg strengths, from the National Medical Products Administration (NMPA), China,” Biocon said in a regulatory filing.
Tacrolimus, an immunosuppressant, is used to prevent organ rejection in transplant patients by reducing the body’s immune response. This approval enhances Biocon’s portfolio of complex drug products and further strengthens its presence in the global pharmaceutical market.
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“The approval further adds to Biocon’s portfolio of complex drug products and will be commercialised in the region expeditiously,” Biocon added.
Biocon reported an 84.2% year-on-year (YoY) decline in net profit at ₹27.1 crore for the second quarter that ended on September 30, 2024. In the corresponding quarter last fiscal, Biocon posted a net profit of ₹172 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹54.7 crore for the quarter under review.
The company’s revenue from operations increased 3.7% to ₹3,590.4 crore against ₹3,462 crore in Q2 of FY24. The CNBC-TV18 poll had predicted revenue of ₹3,660.1 crore for the quarter under review.
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At the operating level, EBITDA dipped 7.6% to ₹685.5 crore in the second quarter of this fiscal over ₹741.3 crore in the year-ago period. The CNBC-TV18 poll had predicted an EBITDA of ₹736 crore for the quarter under review.
Shares of BioconLtd ended at ₹372.95, up by ₹4.15, or 1.13% on the BSE.
