The US drug regulator conducted the combined cGMP inspection and pre-licensing inspection (PLI) from 15 July to 26 July 2024. The inspection scope had included 6 separate Biologics manufacturing units comprising of 4 drug substance and 2 drug product manufacturing plants as well as 5 analytical quality control laboratories, 4 microbiology laboratories, and 2 warehouses. Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development. The company reported a consolidated net loss of Rs 16 crore in Q2 FY25 as against a net profit of Rs 126 crore in Q2 FY24. Revenue from operations rose by 4% YoY to Rs 3,590 crore during the quarter. Powered by Capital Market - Live

Biocon Ltd is up for a third straight session today. The stock is quoting at Rs 327, up 1.29% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 1.04% on the day, quoting at 24230.1. The Sensex is at 79668.59, down 0.88%. Biocon Ltd has slipped around 4.58% in last one month. Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has slipped around 3.18% in last one month and is currently quoting at 22920.35, down 1.54% on the day. The volume in the stock stood at 15.6 lakh shares today, compared to the daily average of 28.76 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 328.35, up 1.19% on the day. Biocon Ltd is up 44.15% in last one year as compared to a 24.62% jump in NIFTY and a 45.62% jump in the Nifty Pharma index.The PE of the stock is 0 based on TTM earnings ending September 24.Powered by Capital Market - Live

Revenue from operations rose by 4% year-over-year (YoY) to Rs 3,590 crore during the quarter. On the segmental front, Generics business revenue was Rs 624 crore (down 8% YoY), Biosimilars revenue was Rs 2,182 crore (up 11% YoY) and Research Services revenue was Rs 891 crore (down 2% YoY). Net R&D expenses aggregated to Rs 200 crore, down 24% YoY. EBITDA declined by 20% to Rs 718 crore in Q2 FY25 from Rs 900 crore in Q2 FY24. EBITDA margin was 20% in Q2 FY25 as against 25% in Q2 FY24. Profit before tax in Q2 FY25 stood at Rs 98 crore, down by 54% from Rs 214 crore in Q2 FY24. Kiran Mazumdar-Shaw, chairperson, Biocon Group, said: 'Biocon Group's overall Q2FY25 financial and operational performance provides a foundation for improved performance as we move into the second half of the fiscal. Reported Operating Revenues of Rs 3,590 Cr reflect YoY growth of 8% on a like for like basis and core EBITDA and EBITDA margins of 28% and 20% respectively remain healthy. We had a robust performance in the Biosimilars business, up 19% on a like for like revenue basis, driven by strong market share gains in our US Oncology and Insulins franchises. Syngene has returned to sequential growth and has good visibility of a pickup in momentum in the coming quarters led by its Discovery Services and Biomanufacturing CMO business. Generics has continued to face price and demand pressures that have supressed performance, but key new formulation launches in Q3 and Q4 provide the basis of a turnaround before the year end. All three businesses are tracking towards a better performance in the second half of the year, on the back of product approvals and unfolding market opportunities. Biocon Biologics' successful refinancing of its long-term debt of US$ 1.1 billion through a combination an $800 million USD bond listed on the Singapore Stock Exchange and a new $300 million syndicated loan facility was a credible success. This was Biocon Group's debut bond issue and to be 3x oversubscribed speaks to strong investor confidence in our Biosimilars growth potential.' Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development. Powered by Capital Market - Live

Securities in F&O Ban: IDFC First Bank, India Mart Intermesh, PNB, RBL Bank. Result Today: Narayana Hrudayalaya, Tata Investment Corporation, BF Investment, BF Utilities, Last Mile Enterprises, Sonalis Consumer Products, and Sudarshan Pharma Industries will declare their results today. Stocks to Watch: Biocon's consolidated net profit declined 84.3% to Rs 72 crore in Q2 FY25 from 172 crore in Q2 FY24. Revenue increased 3.6% YoY to Rs 3,590 crore during the quarter. Meanwhile, the company's drug substance facility in Bengaluru has been classified as voluntary action indicated by US Food and Drug Administration (USFDA). Larsen & Toubro reported 6.69% increase in consolidated net profit to Rs 4,113crore during the quarter as compared with Rs 3,855 crore posted in corresponding quarter last year. Revenue jumped 20.63% YoY to Rs 61,554 crore during the quarter. Tata Power Company's consolidated net profit rose 7.47% to Rs 1093 crore on 0.26% increase in revenue from operations to Rs 15,698 crore in Q2 FY25 over Q2 FY24. Meanwhile, the company filed insurance claim worth Rs 221 crore for damages incurred due to dire incident in September and received Rs 50 crore advance, final settlement to be determined on completion of assessment. Protean eGov Technologies' consolidated net profit declined 38% to Rs 28 crore on 11.8% increase in revenue from operations to Rs 220 crore in Q2 FY25 over Q2 FY24. Automotive Axles' consolidated net profit declined 20% to Rs 36 crore on 15.24% fall in consolidated revenue 15.24% to Rs 495 crore in Q2 FY25 over Q2 FY24. IRB Infrastructure's consolidated net profit jumped 4.3% to Rs 99.9 crore despite of 9.1% decline in revenue to Rs 1585.8 crore in Q2 FY25 over Q2 FY24Powered by Capital Market - Live

Net loss of Biocon reported to Rs 16.00 crore in the quarter ended September 2024 as against net profit of Rs 125.60 crore during the previous quarter ended September 2023. Sales rose 4.49% to Rs 3545.00 crore in the quarter ended September 2024 as against Rs 3392.60 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales3545.003392.60 4 OPM %19.3321.15 - PBDT492.30627.60 -22 PBT72.40238.30 -70 NP-16.00125.60 PL Powered by Capital Market - Live

Biocon Ltd rose for a third straight session today. The stock is quoting at Rs 351.4, up 1.41% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.21% on the day, quoting at 25075.15. The Sensex is at 81827.06, down 0.18%. Biocon Ltd has dropped around 10.17% in last one month. Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has dropped around 0.7% in last one month and is currently quoting at 23680, down 0.29% on the day. The volume in the stock stood at 8.12 lakh shares today, compared to the daily average of 43.14 lakh shares in last one month. The benchmark October futures contract for the stock is quoting at Rs 352.25, up 1.29% on the day. Biocon Ltd is up 38.24% in last one year as compared to a 27.08% gain in NIFTY and a 55.7% gain in the Nifty Pharma index.The PE of the stock is 0 based on TTM earnings ending June 24.Powered by Capital Market - Live

Biocon will hold a meeting of the Board of Directors of the Company on 30 October 2024.Powered by Capital Market - Live

Biocon Biologics (BBL), a subsidiary of Biocon, today announced the successful pricing of Biocon Biologics' debut USD 800 million (Rs 6676.3 crore) senior secured Notes due 2029 at a coupon of 6.67%. The Bonds will be issued by Biocon Biologics Global plc which is a wholly owned subsidiary of BBL and will be backed by a strong security package. The Bonds are expected to be rated BB by both S&P and Fitch and will be listed on the Singapore Stock Exchange. The transaction is expected to settle on October 09, 2024 subject to customary closing conditions. Additionally, Biocon Biologics has entered into a commitment agreement for a new syndicated debt facility. The proceeds of the Bonds, together with the new syndicated debt facility being raised, will be used to substantially re-finance existing debt of USD 1.1 billion (Rs 9346.8 crore) which will help improve the Company's liquidity profile, provide financial flexibility and opportunity to re-invest the cash into the business.Powered by Capital Market - Live

Tabuk Pharmaceutical Manufacturing Company is a fully-owned subsidiary of Astra Industrial Group, a leading pharmaceutical company in the Middle East and North Africa (MENA) region. Glucagon-like peptide-1 (GLP-1) are medications that help lower blood sugar levels and promote weight loss. They are physiological hormones that have multiple actions on glucose, mediated by the GLP-1 receptors released from gut enteroendocrine cells and control meal-related glycemic excursions through augmentation of insulin and inhibition of glucagon secretion. GLP-1 also inhibits gastric emptying and food intake actions, maximizing nutrient absorption while limiting weight gain. Under the terms of this agreement, Biocon will develop and manufacture the products and Tabuk Pharmaceuticals will hold the marketing authorization rights, and be responsible to register, import, and promote them in the region. The agreement also provides for a provision to expand to other glucagon-like peptide (GLP) products, as well as the option of a tech transfer that will enable localized manufacturing at a later stage. Siddharth Mittal, chief executive officer and managing director, Biocon, said: I am pleased to expand our partnership with Tabuk Pharmaceuticals, which paves the way for our vertically integrated, complex GLP-1 formulations entry into Saudi Arabia and other countries in the region. The partnership is further validation of our concerted focus on GLPs and Peptides as future growth drivers. Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development. The company's conosldidated net profit surged to Rs 659.7 crore in Q1 FY25 as compared with Rs 101.4 crore in Q1 FY24. Revenue from operations increased marginally year on year to Rs 3,432.9 crore in during the quarter. The scrip rose 0.35% to currently trade at Rs 373.80 on the BSE. Powered by Capital Market - Live

Biocon announced the signing of a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company (a fully-owned subsidiary of Astra Industrial Group), a leading pharmaceutical company in the Middle East and North Africa (MENA) region, to commercialize its GLP-1 products for treating diabetes and chronic weight management, in select countries of the Middle East. Under the terms of this agreement, Biocon will develop and manufacture the products and Tabuk Pharmaceuticals will hold the marketing authorization rights, and be responsible to register, import, and promote them in the region. The agreement also provides for a provision to expand to other GLP products, as well as the option of a tech transfer that will enable localized manufacturing at a later stage.Powered by Capital Market - Live