**Biocon Biologics Reports Strong Growth in Q1, Eyes Future Expansion**
Biocon Biologics Ltd, the biosimilars division of the biopharmaceutical leader Biocon, is poised for accelerated growth following a robust first quarter performance, as stated by its CEO. The company reported an 18% year-on-year revenue increase, reaching ₹2,458 crore, while its EBITDA surged by 36% on a like-for-like basis to ₹645 crore for the quarter ending in June. The EBITDA margin also expanded to 26%.
CEO Shreehas Tambe highlighted that the growth was primarily driven by strong sales in North America and Europe, particularly within the oncology franchise. Key biosimilars in their oncology portfolio, including Fulphila and Ogivri, have maintained a market share exceeding 25% in these regions. Additionally, the company received FDA approval for Kirsty (Insulin Aspart), marking it as the first known interchangeable rapid-acting analogue to Novo Nordisk’s NovoLog. Tambe noted the unique position of this product, as it faces no competition apart from the innovator, which is signaling its exit from the market. The addressable market for Insulin Aspart in the U.S. is estimated at $1.2 billion, with an additional $1.6 billion market for another rapid-acting insulin, Lispro (Humalog by Eli Lilly).
Tambe emphasized that this positions Biocon Biologics favorably for future quarters. The oncology portfolio remains a focal point, alongside ongoing efforts in diabetes and autoimmune diseases. The company has a pipeline of five new product launches planned over the next 12-18 months, which are expected to further drive growth.
In terms of market distribution, North America was the largest contributor to Biocon Biologics’ revenue last quarter, accounting for 40%, followed by Europe at 35%, with emerging markets making up the remaining 25%. The company is optimistic about growth stemming from its acquired global biosimilars business.
Tambe explained the three-stage growth strategy, which began with preserving the value of the acquired asset. Last year was dedicated to consolidation, laying the groundwork for future expansion. The acquisition of Viatris’ global biosimilars portfolio in 2022 for $3.3 billion has transformed Biocon into a fully integrated global biosimilars entity. This segment is now Biocon’s largest revenue contributor, accounting for 61% of overall revenue in Q1 FY26.
Kiran Mazumdar-Shaw, Biocon’s executive chairperson, remarked that without the Viatris acquisition, the company could not have achieved its current status as a global biopharmaceutical player. She described the acquisition as a transformative move that will significantly impact the company’s future.
**FAQ**
**What is Biocon Biologics’ primary focus for growth?**
Biocon Biologics is primarily focused on expanding its oncology portfolio while also continuing to develop products for diabetes and autoimmune diseases.
