Biocon registers revenue surges by 21 percent in Third quarter

Bangalore, Jan 17(UNI) City-ased Biocon Limited's consolidated revenues surged by 21 per cent to Rs 811 crore (after excluding the Enzymes business) over the same period in the previous year for the third quarter ending December 31.

Consolidated Operating profits (EBITDA) increased by 20 per cent to Rs 240 crore. Profit after Tax (PAT) touched Rs 160 crore which is 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's BIOMAb-EGFRTM received 'The Product of the Year 2007' award from Biospectrum. Label expansion trials of BIOMAb EGFR commenced for Glioma.

The release said that the trials for Non Small Cell Lung Cancer would commence shortly. Development of Biocon's novel insulin- conjugate for oral delivery (IN-105) was on track. Phase I clamp studies in Sweden nearing completion and Phase II study in the country was expected to commence in March.

Biocon to make a strategic investment in IATRICa Inc., a US based biotech company, to co-develop novel Anti-cancer molecules based on a proprietary immuno-conjugation technology licensed from Johns Hopkins University of the United States.

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