Broad-Based Business Momentum Helps Biocon Deliver 16% Revenue

Board recommends a dividend of Rs. 5/share (100%) 
Bangalore, Karnataka, India- Business Wire India 
FY14 Performance: Revenues Rs 2,933 Crs; EBITDA Rs 743 Crs; PAT Rs 414 Crs 
Commenting on the quarterly performance and highlights, Chairman and Managing
Director, Kiran Mazumdar-Shaw stated, “Biocon ended fiscal 2014 on a strong
note. We delivered 16% revenue growth along with a healthy EBITDA Margin of 25%.
This fiscal we recorded robust performance, an outcome of our efforts aimed at
optimising our product mix, augmenting capacities and driving operational
We have delivered on our promise of affordable innovation through
commercialization of Alzumab™, an anti-CD6 novel biologic for Psoriasis; and
CANMAb™, the world's most affordable trastuzumab. We are pleased that a large
number of patients benefitted from these two products. We continue with our
innovation led business strategy and look forward to deliver superior value to
our stakeholders.” 
Diversified Revenue growth in FY14
Biopharmaceuticals Segment: 14% YoY
Research Services Segment: 28% YoY 
Group EBITDA and PAT margins at 25% and 14% respectively
R&D investments of Rs131 Crores (6% of Biopharma Segment sales)
Commercial Launch of the world's most affordable trastuzumab, CANMAb®
Inauguration of Baxter's Global Research Centre at Syngene
Elevation of Dr. Arun Chandavarkar to Chief Executive Officer and Joint Managing
Appointment of Mr. Ravi Limaye, as President – Marketing, Biocon 
Business Performance 
Financial Highlights: Q4 FY14 (In Rs. Crores) 
Revenue : 746
R&D Expenses: 29      
EBITDA: 193                         (EBITDA Margin: 26%)
PAT:  113                                   (PAT Margin: 15%)
Revenue Breakup:
Biopharmaceuticals: 535
Research Services: 188
Other Income: 23 
The biopharma segment delivered a growth of 14% YoY and 15% YoY for FY14 and Q4
FY14 respectively. 
Commenting on this performance, Ravi Limaye, President - Marketing, Biocon, said
“The healthy growth of 14% this fiscal from our biopharma segment reflects our
ability to manage the rapidly changing business environment. We continue our
efforts to rebalance our product portfolio in the biopharma segment to ensure
higher margin accretion despite the underlying current of commoditization in
some of our key product portfolios. The strong traction in biosimilars,
supported by capacity augmentation should hold us in good stead till our
Malaysian facility comes online. The return to growth of our branded
formulations segment is a positive sign, and we expect this vertical to deliver
strong growth going forward.” 
Small Molecules 
Our sustained focus on optimizing our product portfolio in Small Molecules has
helped us deliver a healthy set of numbers this fiscal. The recent portfolio
realignment helped us offset the impact of continuous commoditization in the
statins space. We have witnessed good business traction in Immunosuppressants
and specialty products and expect it to sustain in FY15. 
We have made investments this fiscal to progress from APIs to generic
formulations and ANDAs, thereby moving up the pharma value chain. These
investments will help us sustain our growth momentum in the coming years by
ensuring a healthier product mix. We expect to initiate our dossier filings from
this portfolio in FY15, which will bear dividends over the next few years. 
Our generic Insulins portfolio has delivered strong growth this fiscal through
our expanding geographical footprint and increasing market penetration. Our
generic rh-Insulin is now approved in over 55 countries.  This growth has been
supported by our enhanced capacities over the course of fiscal 2014. Our
Malaysia project is on track to be commissioned in FY15. We continue to make
progress on our various developmental programs, and hope to bring some of them
to the clinic in FY15. 
Branded Formulations  
The branded formulations vertical grew at 9% YoY this quarter, vis-à-vis the
industry growth of 7% YoY, delivering revenues of Rs. 93 Crs in Q4 FY14.  We
closed FY14 with sales of Rs. 391 Crs and a growth of 13% vs. the overall
industry growth of 6%, driven by our flagship brands of BioMAb EGFR®,
Abraxane™, Insugen® and Basalog®. We launched our trastuzumab product,
CANMAb® in India in Q4 FY14. 
Novel Molecules  
We continue with the clinical development of our novel oral insulin molecule, IN
105, in USA, in partnership with BMS. 
We have initiated the groundwork to explore expanded indications for our novel
Anti CD6 molecule, Itolizumab. We are in discussions with potential partners for
the out-licensing of this molecule. 
Research Services  
The research services segment grew at 28% YoY in FY14 and 14% in Q4 FY14. The
quarter also saw the inauguration of the Baxter Global Research Centre, another
multi-year dedicated services engagement with a global pharma company. 
Commenting on this performance, Peter Bains, Director Syngene International,
said, “We are pleased to report a strong set of numbers for FY14 with 28% YoY
revenue growth which has also translated into a strong EBITDA growth. It is
encouraging to see strong, broad based business momentum across our chemistry,
biology, biologics and clinical service platforms. Our latest long term,
dedicated research Centre for Baxter reflects the strong value that we bring to
biopharma through wide ranging quality services and flexible business models. 
Our order book and outlook for the coming year remains robust, and, in line with
our midterm outlook, we continue to invest in strengthening and enhancing our
discovery and development service platforms.”  
Mr. Ravi Limaye has joined Biocon as President, Marketing. He has over 25 years'
experience with global pharma companies like Novartis, GSK and Roussel Uclaf
(now part of Sanofi). Prior to joining Biocon, Ravi was with Novartis, India,
responsible for their Specialty Business, Business Development and Licensing. 
We expect FY15 to reflect continued business momentum with biosimilars, branded
formulations and research services driving growth. The progress in our
development pipeline (across biosimilars and novel molecules) will see some of
our molecules enter the clinic. We continue to make investments in
infrastructure and people to support our growth. 
About Biocon
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is a
fully-integrated, innovation-led, emerging global biopharmaceutical enterprise
serving customers in over 85 countries. It is committed to reduce therapy costs
of chronic diseases, like autoimmune, diabetes, and cancer to enable access to
affordable healthcare solutions for patients, partners and healthcare systems
across the globe. Biocon's key innovations include two novel biologics, BioMAb
EGFR® for cancer and ALZUMAb™ for psoriasis. The company has also introduced
CANMAb™, the world's most affordable trastuzumab, for HER2- positive  breast
cancer and has pioneered the development of the world's first pichia-based
recombinant human Insulin, INSUGEN®  and insulin analog Glargine, BASALOG ®. 
Certain statements in this release concerning our future growth prospects are
forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that could cause actual results to differ
materially from those contemplated in such forward-looking statements. Important
factors that could cause actual results to differ materially from our
expectations include, amongst others general economic and business conditions in
India, our ability to successfully implement our strategy, our research and
development efforts, our growth and expansion plans and technological changes,
changes in the value of the Rupee and other currency changes, changes in the
Indian and international interest rates, change in laws and regulations that
apply to the Indian and global biotechnology and pharmaceuticals industries,
increasing competition in and the conditions of the Indian biotechnology and
pharmaceuticals industries, changes in political conditions in India and changes
in the foreign exchange control regulations in India. Neither our company, our
directors, nor any of our affiliates, have any obligation to update or otherwise
revise any statements reflecting circumstances arising after this date or to
reflect the occurrence of underlying events, even if the underlying assumptions
do not come to fruition. 
Earnings Call 
The company will conduct an hour long call at 3:30 PM IST on April 24, 2014
where the senior management will discuss the company's performance and answer
questions from participants. To participate in this conference call, please dial
the numbers provided below five to ten minutes ahead of the scheduled start
time. The dial-in number for this call is +91-22-3938 1081/ 6746 5891.  Other
toll numbers are listed in the conference call invite which is posted on the
company website The operator will provide instructions on asking
questions before the start of the call. To receive reminders for the earnings
call, you can register here. A replay of this call will also be available from
April 25, 2014 – May 3, 2014 on +91 22 3065 1212, Playback ID: 311121#.  The
transcript of the conference call will be posted on the company website within 7
working days of the investor conference call. 
To view the fact sheet, please click on the link mentioned below: 
Encl.: Fact Sheet - Consolidated Income Statement and Balance Sheet (Indian
Media Contact Details 
Saurabh Paliwal, Investor Relations, +91-9538380801, +91 (80) 28082040, 
Sweta Pachlangiya, Investor Relations, +91-9686509372, +91 (80) 28082808 Ext
Seema Ahuja, Media Relations, +91-9972317792, 
Rumman Ahmed, Media Relations, +91-9845104173, 
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-0- Apr/25/2014 09:48 GMT
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