Date: 08-Nov-2019

Biocon’s $1-bn target for biologics biz achievable by FY22: Kiran Mazumdar Shaw

Biocon has received the EIR for biologics drug product facility in Bangalore. What does it really mean for the company and how does it help in biologics growth? This was a surveillance audit that was conducted on our facilities in Bangalore and these are the facilities where we produce the biosimilar trastuzumab, biosimilar pegfilgrastim and insulin. It was very important for us to go through with that particular audit successfully and we did. So, it is good news for us and of course it was not something that we were concerned about because it has already been an approved facility. What is important for our business going forward is that we expect expanded capacities for pegfilgrastim to kick in imminently. We also are looking forward to launch of biosimilar trastuzumab in the US which will be a very important growth driver for us for the rest of this year and going forward as well. It is a very important molecule for us. Going forward, we are looking forward to having our Malaysia facility qualified and then pursue into that our glargine approval for the US market. We are also expecting to file our biosimilar bevacizumab dossier by the end of the year which hopefully would mean that sometime in late FY21, we will get approval for that.