Biocon Biologics Eyes Sales Of $1bn
Second-Quarter Turnover Rises By 40%
Strong growth in Biocon's biologics segment continued in the second quarter and the vertical has now set a target of $1bn in annual sales by the 2021-22 fiscal year.
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Mylan and Biocon have launched their Semglee version of insulin glargine in the US, revealing pricing details for the Lantus rival. At the same time, the firms have offered an update on their attempts to have Semglee classified as a biosimilar as they seek an interchangeability designation.
Private equity group True North continues to back the Biocon group and is picking up a minority stake in Biocon Biologics in a deal that values the subsidiary at $3bn. Separately, another subsidiary, Biocon Biosphere, has also been set up as part of efforts to unlock the full potential of the business.