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Biocon Biologics Reaches Landmark Sales Figure; IPO Beckons

 
• By Anju Ghangurde

Biocon rang in a strong fourth quarter amid signs of a build-up in efforts towards supporting the “independent functioning” of its biosimilars business under subsidiary Biocon Biologics.  

Key
BIOCON CONTINUES TO INCH TOWARDS PLANS TO UNLOCK VALUE OF ITS BIOLOGICS BUSINESS

Biocon Ltd. continued its strong showing in the fourth quarter, buoyed by momentum in its biologics business and robust growth in its research services segment. The Indian firm also appears to have taken more definitive steps towards eventually unlocking value from the biologics business via a potential initial public offer (IPO), though it did not share specifics or timelines on such plans.

Biocon’s biologics business grew 87% to INR4.51bn ($64.6m) in the fourth quarter, closing what chairperson and managing director Kiran Mazumdar-Shaw...

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