Analyst Concall
Biocon's growth in FY26 to be aided by new pdt launches
This story was originally published at 12:53 IST on 8 August 2025
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--Biocon: All three business seeing accelerated growth
--CONTEXT: Comments by Biocon's management in post-earnings analyst call
--Biocon: Our balance sheet is stronger post QIP
--Biocon: Made strong start to FY26, biosimilars to build on momentum
--Biocon: Multiple launches in generics segment planned in FY26
--Biocon: Net debt for Biocon Biologics at $1.15 bln, $100 mln for generics
--Biocon: See interest cost coming down in in Q2
--Biocon: Company is $120 mln cash-positive for Syngene
--Biocon: QIP funds to aid retire Goldman Sachs' $180-mln debt
--Biocon: To launch Liraglutide in Europe market
--Biocon: See strong performance in oncology portfolio in US market
--Biocon: To launch insulin biosimilar in US immediately
--Biocon: To file for Semaglutide approval across nations by end of Jan-Mar
--Biocon: Liraglutide's launch in Europe to be biggest growth driver
--Biocon: To also launch Liraglutide in Indian market
--Biocon: More than 10 products approved in US, Europe
By P. Madhu Kumar and Sunil Raghu
MUMBAI/AHMEDABAD – Biocon Ltd. remains confident of the growth trajectory for 2025-26 (Apr-Mar) in its three core businesses--generics, contract research, development, and manufacturing organisation, and biosimilars, the company's management said in a post-earnings conference call with analysts and investors. The management said growth would be seen in the upcoming quarters driven by new product launches, majorly in the US and Europe. New launches will be seen in the generics and biosimilars segment with drugs such as Semaglutide, Liraglutide, Yesintek, and some insulin biosimilars.
The management further said it has planned multiple launches across nations, including generics and biosimilars, and has received approval for over 10 products in the US and Europe. The company also said it made a strong start to FY26 and expects biosimilars to build on growth momentum in the upcoming quarters. It is likely to float the anti-diabetic medication Liraglutide in India soon. The biopharmaceutical company also said that it will file applications seeking approval for Semaglutide across nations.
Talking about the company's business in the European market, the management said that it will launch Liraglutide in the European market which will prove to be the biggest growth driver for the company. The company said it has already won some tenders for the drug in Europe. "We also secured approvals for biosimilar denosumab from both the European Commission and UK's Medicines and Healthcare products Regulatory Agency, and these approvals marked Biocon Biologics anticipated entry into the bone-health therapy area, opening up a new therapeutic segment for our biosimilars' business," the company's management said. More
Talking about its US business, the company said that it will launch new insulin biosimilars in the US and also see strong performance in the oncology business in the region. "Our oncology portfolio led by Abevmy, which is our Bevacizumab, and Trastuzumab, have shown significant growth of 15% and 20% (respectively), which gives you a sense that while we've said that we will grow beyond our therapy areas, it is actually starting to play out," the company's management said.
When asked about its debt structure, the management said the net debt for Biocon Biologics stands at $1.15 billion, debt at generics level stands at $100 million. However, the company said it is $120 million cash positive in Syngene, a publicly listed subsidiary of Biocon, focused on providing integrated research, development, and manufacturing services. The company had raised INR 45 billion through qualified institutional placement in June and the management said that the funds were partially used to retire $180 million debt from Goldman Sachs.
The management further added that after its first-ever qualified institutional placement fund raise, Biocon's balance sheet has become stronger and also attributes its growth in the market to product launches, increasing market share and improvement in customer traction. The company also sees its interest cost coming down in the September quarter.
The company posted an increase of 95% on year in its consolidated net profit to INR 314 million, lower than analysts estimates of INR 991.50 million. Its consolidated revenue for the quarter rose nearly 15% on year to INR 39.42 billion. At 1240 IST, shares of the company traded 3.4% lower at INR 351.80 on the National Stock Exchange. End
US$1 = INR 87.65
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta and Akul Nishant Akhoury
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