Biocon's revenue up by 21 pc in Q 3

Bangalore, Jan 17: 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'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 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.

UNI