Shares of this mid-cap pharma company rose nearly 2% after the company planned to boost the adoption of biosimilars in low and middle-income countries.
Price action:
The shares of Biocon Limited, with a market capitalization of Rs. 41,210.60 crores saw its shares rise to Rs. 345.2 per share, from its previously close price of Rs. 339.85 apiece.
What happened:
Biocon Limited, through its subsidiary Biocon Biologics Limited, has released a study aimed at promoting the adoption of biosimilars in low- and middle-income countries (LMICs). which is the cheaper alternative to expensive biological drugs used for diseases like cancer and diabetes.
The report highlights six key areas for improvement: better regulations, national policies to increase access to biosimilars, encourage local manufacturing, increasing education on biosimilars, initiatives for biosimilar access, and strong monitoring systems.
These steps aim to make healthcare more affordable and accessible in low and middle-income countries, where many people struggle to access costly treatments. This effort could lead to better patient outcomes and reduced healthcare costs in these regions.
Highlights of the study:
The study highlights that non communicable diseases (NCDs) like cancer and diabetes account for 74% of global deaths, out of which 77% of the deaths occur from low and middle-income countries.
Whereas in countries with high incomes, biosimilars have already resulted in lower healthcare costs, giving increasing access to patients for biological treatments for non communicable diseases.
Financials:
The company reported revenues of Rs. 14,755 Crores in FY 2024, up from Rs. 11,174 Crores in FY 2023, resulting in 32% year on year growth, and net profits for the same period more than doubled from Rs. 643 Crores to Rs. 1,297.8 Crores.
Shareholding pattern:
As of the June quarter, shareholding pattern the company promoters own 60.64% stake, while Foreign institutional investors own 5.90% of the company, Domestic institutional investors own 14.3% of the company, and the retail investors hold 19.17% stake in the company.
About the company:
The company is a global biotechnology firm originating in India, focusing on treatments for diabetes, cancer, and autoimmune diseases. Its research and development (R&D) aims to improve patient outcomes through prevention, alleviation, and treatment. The company provides access to therapies in over 120 countries.
With over 13,500 employees, the company operates across four business areas: generics, biosimilars, research services, and novel biologics. It leverages India’s scientific expertise and cost-effective manufacturing to deliver healthcare solutions globally, with a focus on emerging markets and improving access to medicines.
Written By Arvind jv
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