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Biocon expects oral insulin partner by March end

24 Nov 2011 Evaluate

Biocon, country’s largest listed biotechnology company, anticipates a deep-pocketed global partner for its experimental oral insulin pill by end-March. For this the company is in advanced discussions with potential partners.

Earlier in January, Biocon was looking for a partner after its oral insulin, IN-105, failed to meet the main goal of an Indian late-stage trial in patients with type-2 diabetes. Also the planned IPO of its contract research organization, Syngene, is on track.

Biocon is Asia’s leading R&D based Biotechnology Company. It produces anti-diabetic agents like Acarbose, Pioglitazone, Repaglinides and Rosiglitazone. In the biological segment it produces Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase and Monoclonal Antibodies. The drug major also produces mycophenolate mofetil, sirolimus and tacrolimus.

The company’s net profit for the quarter fell 22.05% at Rs 68.07 crore as compared to Rs 87.33 crore for the quarter ended September 30, 2010. Total income has increased by 14.23% to Rs 400.53 crore for the quarter under review from Rs 350.62 crore for the similar quarter of the previous year.

Biocon Share Price

380.55 -2.05 (-0.54%)
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