Biocon is planning to spend 10 per cent of its annual biopharma revenue on research and development (R&D) in the next fiscal year. The company, which is pursuing R&D in both novel biologics as well as biosimilars (generic versions of biologic drugs), in various stages of trials, had spent around Rs. 131 crore on R&D in the previous fiscal year which was 6 per cent of biopharma sales.
The pharma major has spent Rs 47 crore on R&D in the third quarter of this fiscal, an increase of 124 per cent over the corresponding period of the year-ago period. The firm earned revenues of Rs. 436 crore from its biopharma business during the quarter.
Biocon is India’s largest and Asia’s leading biotechnology company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.
