Biotechnology firm Biocon Ltd on Thursday (January 2) announced that its wholly owned subsidiary, Biocon Pharma Ltd, has received approval from the National Medical Products Administration (NMPA) in China for its Tacrolimus capsules in 0.5mg, 1mg, and 5 mg strengths.
“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.
Biocon reported an 84.2% year-on-year (YoY) decline in net profit at Rs 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 Rs 172 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of Rs 54.7 crore for the quarter under review.
The company’s revenue from operations increased 3.7% to Rs 3,590.4 crore against Rs 3,462 crore in Q2 of FY24. The CNBC-TV18 poll had predicted revenue of Rs 3,660.1 crore for the quarter under review.
At the operating level, EBITDA dipped 7.6% to Rs 685.5 crore in the second quarter of this fiscal over Rs 741.3 crore in the year-ago period. The CNBC-TV18 poll had predicted an EBITDA of Rs 736 crore for the quarter under review.
Shares of Biocon Ltd ended at Rs 372.95, up by Rs 4.15, or 1.13% on the BSE.
