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Biocon Ltd - Stock Valuation and Financial Performance

BSE: 532523 | NSE: BIOCON | Pharmaceuticals & Drugs | Mid Cap

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Biocon Share Price

 ₹388.45 -8.60 -2.17%
as on 24-Jan'25 16:59

DeciZen - make an informed investing decision on Biocon

Overall Rating ⓘ
Bole Toh

1. Quality

Somewhat Good
Check detailed 10 Yrs performace

2. Valuation

Somewhat overvalued
Check 10 Yrs Valuation charts

3. Price Trend

Strong
Check Price chart

Biocon stock performance -

PE Chart Key Ratios
mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
46,637.3 Cr.
52-wk low:
244.4
52-wk high:
404.6

Is Biocon Ltd an attractive stock to invest in?

1. Is Biocon Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Biocon Ltd is a average quality company.

2. Is Biocon Ltd undervalued or overvalued?

The key valuation ratios of Biocon Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Biocon Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Biocon Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Biocon:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Standalone Basis P Consolidated Basis P
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Biocon Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % ⓘ16.8%16.5%12.4%8.3%4.5%6.1%7.5%4.7%1.7%29.8%-
Value Creation
Index ⓘ		0.20.2-0.1-0.3-0.6-0.5-0.3-0.6-0.91.7-

Growth Parameters ⓘ

Growth Parameters Colour Code Guide ⓘ

Sales ⓘ2,2032,2422,3022,5882,4191,7861,9882,0281,7381,9932,131
Sales YoY Gr.-1.8%2.7%12.4%-6.5%-26.2%11.4%2%-14.3%14.7%-
Adj EPS ⓘ2.63.12.44.41.71.92.52.40.66.80.4
YoY Gr.-21.7%-25.2%88.9%-61.3%9.3%33%-4.8%-74%1003.2%-
BVPS (₹) ⓘ19.221.349.654.155.758.862.16566.69090.7
Adj Net
Profit ⓘ		30937628253320722530028574.682242
Cash Flow from Ops. ⓘ18612520918635511038757147.6219-
Debt/CF from Ops. ⓘ0.70.71.80.70.40.7001.65.9-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-1.1%-3.8%0.1%14.7%
Adj EPS ⓘ11.4%31.8%39.9%1003.2%
BVPSⓘ18.7%10.1%13.2%35.1%
Share Price 18.9% 5.7% 1.3% 50.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity % ⓘ		13.415.16.68.53.13.34.13.70.98.60.4
Op. Profit
Mgn % ⓘ		-2.919.217.923.813.111.914.215.93.51.19.7
Net Profit
Mgn % ⓘ		14.116.812.320.68.512.615.114.14.341.22
Debt to
Equity ⓘ		0.100.10000000.10.2
Working Cap
Days ⓘ		227244243240295433376296321305210
Cash Conv.
Cycle ⓘ		7990888511117114195154150137

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 39.86%

Return on Equity has declined versus last 3 years average to 0.40%

Sales growth has been subdued in last 3 years 0.08%

Sales growth is not so good in last 4 quarters at 1.83%

Latest Financials - Biocon Ltd.

Standalone Consolidated
TTM EPS (₹) 0.4 12
TTM Sales (₹ Cr.) 2,131 14,334
BVPS (₹.) ⓘ 90.7 174.9
Reserves (₹ Cr.) ⓘ 10,289 20,392
P/BV ⓘ 4.28 2.22
PE ⓘ 0.00 32.41
From the Market
52 Week Low / High (₹) 244.40 / 404.60
All Time Low / High (₹) 14.43 / 487.70
Market Cap (₹ Cr.) 46,637
Equity (₹ Cr.) 600.3
Face Value (₹) 5
Industry PE ⓘ 42.3

Management X-Ray of Biocon:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Biocon

Event Update

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Analyst's Notes

Biocon: Q2FY24 result update - 25 Nov 2023

            

Particulars

Q2FY24 (Rs. Crs)

YoY Trend

Comments

Revenue

3,462

+49%

Biosimilars/research/generics segments grew 97/18/4% resp. 
EBITDA

717

+62%

 
EBITDA Margin

21%

+165bps

Operational efficiency driving margins
PAT

173

+111%

Other income (Rs 134 Cr vs Rs 48 Cr YoY) aided profits

Strong results. 

Biocon: Q1FY24 Result Update - 19 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

3,423

+60%

 Driven by doubling of Biosimilars segment revenues;   research/generics  segment growth of +25% /15% 

EBITDA

681

+91%

 

EBITDA Margin

20%

+325 bps

 

PAT

149

-11%

 Increase in depreciation, interest expense, primarily   related to acquisition impacted profits

Good results, growth in Biosimilars business aided by acquisition (Viatris’ biosimilar).

 

Biocon: Q4FY23 Result Update - 26 May 2023

 

Particulars

Q4FY23

YoY Growth

Comment

Revenue

3,929

59%

Biosimilars +114% | Research +31% | Generics - Includes 109 Cr from Bicara stake dilution gain

EBITDA

1,152

75%

 

EBITDA Margin

29%

200bps

Net R&D spend at 342 Cr, up 152 Cr vs Q4 FY22

PAT

335

-2%

Increase in depreciation, amortization and interest expense primarily related to acquisition of Viatris’ biosimilar business

Muted Result on account of lower than expected traction in biologics and generics business.

 

Biocon: Quarterly Result update - 24 Jan 2020

Results: Biocon reported 13.4% growth in sales and 16.7% growth in operating profit year on year. Biologics business grew by 31% over previous year, while small molecules business grew by 16%. 

  • Gross R&D expenses stood at Rs. 155 Crore, up 46% (vs. Rs 106 Crore in Q3FY19).
  • Company received U.S. FDA approval for supplemental Biologics License Application (sBLA) for Pegfilgrastim Drug Substance to be manufactured at manufacturing facility in Bengaluru.
  • Received Establishment Inspection Report (EIR) from U.S. FDA stating the agency has closed its inspection of Biologics Drug Product facility in Bengaluru, which had undergone a Post-Approval Inspection in August 2019.
  • Revenue from the Research Services business (Syngene) this quarter stood at Rs 519 Crore, a growth of 11%, driven by the Discovery Services and Development Services.

Outlook: The management attributed the overall growth in Small Molecules and Biologics. The Biologics segment reported a strong revenue growth led by higher traction in sales of key biosimilars in developed and emerging markets.

As a part of its commitment to operate at the leading edge of pharmaceutical research, Syngene has extended its Biologics discovery and preclinical research capabilities in innovative cell based approach for treating cancer.

We find that new launches will contribute significantly to overall sales growth of Biocon. This can lead to superior return over 3-5 years. We await some correction during market volatility to add into the stock. Current prices already factor in quite a lot of positives hence generating returns from here has some risk. Those who already hold can consider staying invested as far as position size is not high. 

Biocon: Quarterly Result Update - 04 Dec 2019

Results: Biocon reported 19% growth in sales and 18.7% growth in operating profit year on year. Biologics business grew by 40% over previous year, while small molecules business grew by 23%. Biologics now forms around 32% of total sales versus just 16% in FY16.

Biocon sales growth will accelerate as it launches new products in biosimilar space along with the partner Mylan. On 2nd December, Biocon announced that they have received in-principal approval for Ogivri, (trastuzumab) for HER2-positive, breast and gastric cancer patients. The market size of the drug is $2.5bn USD.

We believe that the opportunity size for Biosimilars is huge; it is estimated to become $27bn to $70bn by 2025 by various market experts. Biologics & biosimilars are drugs made from animal protein which leads to better efficacy and much lower side effects compared to chemical drugs.

Besides, once the patient is prescribed a particular biologic/biosimilar drug, doctors typically do not recommend switching to other or cheaper version of the drug as it is not yet discovered how will the same drug from different company affect patients’ healing process.

Biosimilars are almost 30-50% cheaper than original biologics. So instead of eating into existing biologics market, we believe that Biosimilars have potential to expand the market as the drug becomes more affordable to wider audience. But since it unlikely to replace existing biologics drug, the ramp is likely to be slow with only newer patients being prescribed biosimilars.

Key highlights of results: 

  • Siddharth Mittal took over as Biocon CEO, joint MD elevated from his position as CFO and president – finance, in the company.
  • Biocon & Mylan alliance launched Ogivri a biosimilar to Herceptin. Ogivri was the first biosimilar approved by the USFDA for all indications of Herceptin including for the treatment of breast cancer and metastatic stomach cancer.
  • Acquired Pfizer’s biosimilar R&D facility, which will accelerate the development of pipeline products.

Outlook: Biocon has already launched 4 biosimilars in the developed market (Fulphila (US/EU), Hulio (EU), Ogivri (EU/US) and Semglee (EU). Fulphila has limited competition (3-4 players) hence can experience expansion in market share. Ogivri has been launched in US and expected to add $20mn in FY20 and $60m in FY21. The management kept a milestone of achieving $1bn USD sales from biosimilars by FY2022 but it sounds ambitious. Current stock price has moved up to factor in optimism.

The stock price was just 15% above our MRP but it rallied on news of Ogivri approval. We find that new launches will contribute significantly to overall sales growth of Biocon. This can lead to superior return over 3-5 years. We await some correction during market volatility to add into the stock. Current prices already factor in quite a lot of positives hence generating returns from here has some risk. Those who already hold can consider staying invested as far as position size is not high.

Biocon Accounting Issues - 29 May 2012

Biocon is India’s largest biotechnology company and manufactures innovative biopharmaceuticals which cater primarily to high growth areas of diabetology, nephrology, cardiology and oncology. We had covered Biocon in our ‘Company Shastra’ series in January 2012, as a safe stock having favorable future growth opportunities.

The stock was in the news a few months back owing to cancellation of a deal it had signed with Pfizer to sell insulin products. Read more about this here. Biocon received some amount from Pfizer as settlement towards this particular deal. The company hasn’t disclosed this amount. However, after announcement of its quarterly results and subsequent conference call, questions have been raised about the way Biocon has accounted for this compensation.

So, what’s the problem?

The deal with Pfizer was a US$350 million deal for development and subsequent commercialization of an insulin portfolio of which it received US$100 million upfront while US$ 100 million was kept in an escrow. On termination Biocon is estimated to have received some part of this escrow amount which the company has termed as unearned revenue on its balance sheet. This amount as of March 2012 stood at Rs. 493 Cr.

Biocon has stated that it will continue to develop the insulin portfolio and set off the expenses against the retained income in the ratio of 1:1 over the next few years. This means if the company spends say Rs. 100 Cr. towards development of insulin portfolio next year it will set off this against Rs. 100 Cr. of revenues from the unearned revenue.  

Some analysts and accounting experts have raised concern about this practice as the effect of this treatment would result in understating this year’s income and profit and overstating and smoothening the income and profits over the next few years.

What does the company management have to say about this?

Biocon management released a statement stating that ‘Biocon’s accounting practices are in full compliance with GAAP”

The company has stated that “the licensing agreement with Pfizer was not an outright licensing deal but a development licensing deal that mandated Biocon to incur development costs for obtaining regulatory approvals. Post the termination of the agreement with Pfizer, Biocon has obligations to continue the development and accordingly has treated the retained fees as deferred revenues to be set off against development expenses to be incurred upto regulatory approval in various global markets.

However, according to news reports, Biocon CMD Kiran Mazumdar Shaw did not divulge whether

a) Biocon is obligated to continue work on this portfolio as part of the contractual agreement with Pfizer

or

b) Has Biocon decided to develop this on its own without any specific conditionality in its agreement with Pfizer?

So, what is the impact on the MRP of the company?

There is still a lot of ambiguity about this matter. Experts say that deferring of revenues can only be justified if the continuing obligation is a part of the contract between Pfizer and Biocon. However, this has not been specifically disclosed by the management.

We still await more clarity from the management over this. As a matter of prudence, we have increased the Margin of Safety of the company to 35% from 30% owing to the increased risk associated with the quality of management and corporate governance practices.

Hence the MRP remains the same at Rs. 333.47. But, since we have increased its Margin of Safety to 35%, the Discount Price reduces to Rs. 216.76 from Rs. 240.

To check out the updated MRP and Discount Price of Biocon click here.

Any update with respect to this could further impact our valuation estimate.

 

View All Notes

Key Ratios of Biocon

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales2,2422,3022,5882,4191,7861,9882,0281,7381,9932,127
Operating Expenses ⓘ 1,8141,8891,9972,1061,5761,7071,7171,6771,9721,912
Manufacturing Costs363362367458370418388408440416
Material Costs9479881,0351,049789828798808984935
Employee Cost 284322365409289345390368434452
Other Costs ⓘ 21921822919012811614093115109
Operating Profit ⓘ 4284135913132102823116121216
Operating Profit Margin (%) 19.1%17.9%22.9%13.0%11.8%14.2%15.3%3.5%1.0%10.1%
Other Income ⓘ 15118299130109206152187274240
Interest ⓘ 1241310070199
Depreciation ⓘ 1281401511369298104108117121
Exceptional Items ⓘ -2210600199160002,86315
Profit Before Tax ⓘ 4285595363064235483591402,971150
Tax ⓘ 67191176745112785412331
Profit After Tax 361369519239378436281862,848119
PAT Margin (%) 16.1%16.0%20.1%9.9%21.2%21.9%13.8%5.0%142.9%5.6%
Adjusted EPS (₹)3.03.14.32.03.23.62.30.723.71.0
Dividend Payout Ratio (%)28%27%12%25%16%0%0%70%6%50%

Balance Sheet

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 2,5585,9536,4976,6897,0567,4547,8058,00010,80810,832
Share Capital ⓘ 100100100300300600600600600600
Reserves ⓘ 2,4585,8536,3976,3896,7566,8547,2057,39910,20710,232
Minority Interest0000000000
Debt6836213267111761,2982,041
Long Term Debt1113713267110761,2982,041
Short Term Debt5622600001000
Trade Payables301394451580644521372381457448
Others Liabilities ⓘ 406389284289337156249293445441
Total Liabilities ⓘ 3,3337,0987,3647,6258,0398,1318,4278,74913,00713,761

Fixed Assets

Gross Block1,8321,9342,0822,1822,5271,8851,9882,1672,3692,476
Accumulated Depreciation9181,0411,1881,3231,4671,1641,2601,3631,4701,576
Net Fixed Assetsⓘ 9148948948591,059721729805899900
CWIP ⓘ 58172241319255152179285344560
Investmentsⓘ 1653,8093,8884,1994,0934,9535,4135,2809,2719,319
Inventories406505540562802535431542560665
Trade Receivables5555047987409025736057016581,048
Cash Equivalents 621643383197356375601689720586
Others Assetsⓘ 614572620750572823469448555684
Total Assets ⓘ 3,3337,0987,3647,6258,0398,1318,4278,74913,00713,761

Cash Flow

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity ⓘ 12520918635511038757148219-123
PBT ⓘ 4285595363065525603591402,971150
Adjustment ⓘ 4-8811165-112-68118108-2,727112
Changes in Working Capital ⓘ -224-58-34172-194-14156-17216-358
Tax Paid ⓘ -83-205-121-88-137-91-61-28-41-28
Cash Flow From Investing Activity ⓘ 146-321110-556311-213-711-306-1,178-296
Capex -70-243-231-170-258-192-152-245-264-306
Net Investments -86-365243-352265-991-7324-376554
Others ⓘ 30328698-34304971172-65-538-544
Cash Flow From Financing Activityⓘ -15873-238-55-208-129281121,039344
Net Proceeds from Shares ⓘ 0101927323240433031
Net Proceeds from Borrowing ⓘ -15118-8-1-67-67-1731,187500
Interest Paid ⓘ -1-1-4-1-3-10-1-51-6
Dividend Paid ⓘ -100-2110-69-69-6000-60-180
Others ⓘ -43157-246-10-101-33-11-2-66-1
Net Cash Flow ⓘ 113-4058-25521245-112-14681-76

Finance Ratio

Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)14.878.668.343.625.516.013.681.0930.291.1
ROCE (%)16.4912.438.284.536.067.464.651.7429.842.77
Asset Turnover Ratio0.690.450.360.320.230.250.240.20.180.16
PAT to CFO Conversion(x)0.350.570.361.490.290.892.030.560.08-1.03
Working Capital Days
Receivable Days848391116168135106137124146
Inventory Days6171738313912387102101105
Payable Days110128149179283257204170155177

Biocon Ltd Stock News

Biocon Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Biocon on 24-Jan-2025 16:59 is ₹388.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Jan-2025 16:59 the market cap of Biocon stood at ₹46,637.3.
The latest P/E ratio of Biocon as of 24-Jan-2025 16:59 is 0.00.
The latest P/B ratio of Biocon as of 24-Jan-2025 16:59 is 4.28.
The 52-week high of Biocon is ₹404.6 and the 52-week low is ₹244.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Biocon is ₹2,131 ( Cr.) .

About Biocon Ltd

Biocon Limited is engaged in the manufacture of biotechnology products and research services. The Company is a public limited company incorporated and domiciled in India. The Company’s shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India.

Business area of the company

The company is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as generic formulations in the US and Europe. It also has a pipeline of promising novel assets in immunotherapy under development. 

Products

  • Generics
  • Biosimilars
  • Branded Formulations
  • Novel Biologics
  • Awards & Recognition

1985:

  • Export Performance Award, Karnataka State Financial Corporation (KSFC)
  • National Award for Best Small Industry, Government of India

2000:

  • Technology Pioneer Recognition, World Economic Forum

2001:

  • Biotech Product, Process Development and Commercialisation Award, Department of Biotechnology, Ministry of Science and Technology, Government of India

2003:

  • Bio-Business Award for bio-entrepreneurship, Rabo India
  • Express Pharma Pulse Award for excellence in the pharmaceutical industry

2004:

  • Best Reinvention of HR Function Award, Indira Group, Mumbai
  • Best Employer Of India Award, Hewitt

2006:

  • Best IT User Award in the Pharmaceutical Sector, NASSCOM

2007:

  • Syngene receives ‘BioServices Company of the Year’, BioSpectrum Awards
  • Biocon's BIOMAb EGFR wins ‘Product of the Year’, BioSpectrum Awards

2008:

  • Biocon is ranked among the Top 20 Global Biotechnology Companies
  • Biocon is the 7th largest Biotech Employer in the world

2009:

  • Biocon among Top 20 Indian Companies in Forbes ‘Best Under A Billion’ list
  • Biocon wins Bio-Excellence Award for Outstanding Achievement in the Healthcare Sector at Bangalore Bio
  • Syngene wins Bio-Excellence Award for Outstanding Achievement in the Biotech Service Sector at Bangalore Bio
  • Biocon bags IDMA 'Best Patent of the Year' Award
  • Biocon wins prestigious BioSingapore Asia Pacific Biotechnology Award for Best Listed Company

2011:

  • Biocon wins Biospectrum BioPharma Company of the Year Award
  • Biocon wins Best Design and Information Award for the Healthcare Sector at Bangalore India Bio

2012:

  • Biocon features in Top Twenty Global Employers in Biopharma by Science Magazine
  • Biocon wins Excellence in Environmental Management Award
  • Biocon wins Best Exhibitor Award in the category of Biocontent and Information at Bangalore India Bio
  • Biocon wins Golden Peacock National Quality Award

2013:

  • Biocon makes it to the Top Ten Most Admired Companies in the Pharma & Healthcare Sector, Fortune India Magazine, July
  • Biocon wins ABLE 10th Anniversary Award for Outstanding Contribution to Biopharmaceuticals for the decade, 2002-2012
  • Biocon wins Best Design and Innovation Exhibitor Award at Bangalore India Bio
  • Biocon Ranked No. 6 among Top 20 Global Biotech Employers by the Science Magazine

2014:

  • Biocon Foundation gets 'Asia Best CSR Practices Award 2014' for 'Cervical Cancer Screening Programme'
  • Biocon wins Thomson Reuters India Innovation Awards 2014
  • Biocon Foundation wins 'Healthcare CSR of the Year'

2015:

  • Biocon wins Golden Peacock Award - 2014 in the 'Corporate Social Responsibility'
  • Biocon wins the 'Greentech Environment Gold Award'
  • Biocon Foundation wins 'WHO - India Public Health Champion Award 2015'
  • Biocon bags 'The Best in-house IP team of the Year' Award at the Global IP Conclave 2015
  • Biocon wins prestigious ‘UNNATHA SURAKSHA AWARD’ for Safety & Environment Excellence
  • With 'Hall of Fame 2015', Biocon sweeps CIO100 2015 Award with three outstanding honours
  • Biocon bags Pharmexcil Gold Patent Award 2014-15
  • Biocon is the Only Asian Company to be ranked in Top 20 Global Biotech Employers for 2015
  • Biocon wins Procurement Excellence Awards 2015 for ‘Best in Class Excellence in Cost Management’
  • Biocon awarded with India's most coveted Packaging Award for Branded Formulation Products
  • Biocon receives Greentech Environment Award 2015 for excellence in Environment Management in Indian Pharma Industry

2016:

  • Biocon features in Asia IP Elite 2016 List
  • Biocon recognised for 'Corporate Best HR Practices' at NHRD
  • Biocon's Novel Diabetes Education Initiative for Medical Practitioners 'ABIDE' awarded by RSSDI
  • Biocon ranked among Global Top Ten Biotech Employers; the only Asian company to feature in 2016 rankings.
  • Biocon wins Frost & Sullivan India Best Practices Award 2016 for ‘Biotechnology Company of the Year’
  • Biocon awarded as ‘The Company with Great Managers’
  • Biocon wins Gold Award for ‘Company of the Year’ in B2B Marketing at the SABRE Awards, South Asia 2016
  • Biocon wins CII Excellence Award for Best EHS practices in Pharma
  • Biocon wins National Award for Excellence in Training & Development in Pharma Sector for 2016
  • Biocon conferred prestigious status of ‘Transformation Icon’ & ‘Healthcare & Pharma Icon’ for IT Excellence at CIO Awards 2016
  • Biocon felicitated at World HRD Congress 2016 for Excellence in Human Resource Management

2017:

  • Biocon was honoured with the prestigious Bio-Pharma Excellence Award at Bangalore Technology Summit.
  • Biocon featured in ‘Asia IP Elite’ list for the second consecutive time by world’s leading IP magazine IAM at IPBC Asia 2017 held in Tokyo.
  • Biocon ranked 09 among Global Biotech Employers for 2017 by Science magazine. The only Asian company to feature in Top 20.
  • Biocon was conferred with the ´The Star Exporter Award´ by the Federation of Karnataka Chambers of Commerce & Industry (FKCCI).
  • Biocon’s Corporate Communications Team has been ranked No. 13 amongst Top 30 teams in India by Reputation Today magazine.

2018:

  • Biocon honoured at the IPBC Asia Award 2018 for the third consecutive year by world’s leading IP Business information provider IAM.
  • Biocon conferred at the prestigious CII Industrial Intellectual Property Awards 2018 for having The Best Trademark Portfolio (2013-2018) in the Large Industries (Life Sciences) category.
  • Biocon honoured at Pharmexcil Outstanding Exports Award 2017-18 for outstanding contribution to India’s Pharmaceutical Exports during the year 2017-18.
  • Biocon’s Learning and Development Team felicitated with 2 Gold Category Awards at TISS-Leapvault CLO Summit 2018.
  • Biocon felicitated at World HRD Congress 2018 for ‘Excellence in Training & Development’. The excellent L&D initiatives contributed to the company being ranked amongst the Global Top 10 Biotech Employers.
  • Biocon recognised for its SFE Digital Initiative, in BFI Conferred with DigiPharmaX 2017 Award. Biocon received the award under the category of ‘Leveraging technology for use of both digital and onsite promotion for integrated digital marketing’.

2019:

  • Biocon's APIs Facility in Hyderabad awarded the Annual Greentech Environment Award for ‘Outstanding Achievements in Environment Management in the Pharmaceutical Sector’ during the 19th Annual Greentech Sustainability Conference.
  • Biocon wins 2 awards at the TISS-Leapvault CLO Summit: ‘Learning and Development Team of the Year’ and ‘Best Diversity & Inclusion Program’.
  • Biocon wins Unnatha Suraksha Puraskara given by National Safety Council (NSC), Karnataka Chapter for demonstrating excellence in Industrial Safety & Occupational Health Management across its operations.
  • Biocon moves up to Rank No. 6 on Science Careers’ Top 20 Global Pharma and Biotech Employers List 2019.
  • Biocon Biologics has been recognised as ASIA IP ELITE 2019 at IPBC Asia 2019 held in Tokyo, making it the 4th consecutive year that Biocon Group has been awarded by the world’s leading IP magazine, IAM (Intellectual Asset Magazine).
  • Biocon showcases a strong presence at Bengaluru Tech Summit 2019 and wins the ‘Best Exhibitor Award’.
  • Biocon Biologics BFI Learning & Development Team wins the ‘Best Training & Development Award’ at L&D World Summit & Awards, Bengaluru.
  • Biocon's Global Communications Team recognised among Top 30 in India.
  • Biocon wins ‘Best Initiative in Employee Wellness’ at the 3rd edition of the Employee Engagement Leadership Awards.
  • Biocon recognised for the ‘Best Initiative in Employee Wellness’ at the 3rd edition of the Employee Engagement Leadership Awards, for its comprehensive approach to ensure physical, emotional, social and environmental well-being.
  • Biocon conferred the IDMA Margi Memorial ‘Best Patent Award’ in the ‘Biotech’ category in an event organised by the Indian Drug Manufacturers’ Association (IDMA).

2020:

  • Biocon bags ‘Best Biotech Patents Award 2018-19’ by Indian Drug Manufacturing Association (IDMA) at the IDMA 58th Annual Day celebration.
  • Biocon's Biowin HR team won awards in 4 categories such as Women L & D Programs, Diversity Policies, Large Enterprise and Diversity Programs.
  • Biocon's EHS (Environment, Health & Safety) team received the State Level Award in ‘Implementation of Best Safety Practices’ from Department of Factories, Govt. of Karnataka.

Milestones

  • 1978: Biocon India Private Limited is incorporated as a joint venture between Kiran Mazumdar-Shaw and Biocon Biochemicals Limited Ireland. Starting with three employees in a rented shed in Koramangala, suburban Bangalore. Biocon began manufacturing and exporting Papain, a plant enzyme, and Isinglass, a marine hydrocolloid - both, key products for the brewing industry.
  • 1979: Biocon’s first export was Papain, a plant enzyme derived from Papaya, to U.S. and Europe, signalling the company's ambition to produce high quality, world class products in India for global markets.
  • 1980: Biocon acquires a 20-acre plot on Hosur Road, Bangalore to expand operations. On March 8, 1980, the foundation stone was laid for the building that currently houses the company’s corporate office.
  • 1981: Biocon decides to move beyond its frugal operations in rented premises and starts building its own integrated campus at 20th KM, Hosur Road, Electronics City, Bangalore.
  • 1983: Biocon’s new campus at 20th KM, Hosur Road, Electronics City, Bangalore is inaugurated by Irish Ambassador H.E. Bernard McHugh. Manufacturing activity shifted from the rented shed to the new site. R&D was also initiated.
  • 1984: Biocon established its R&D division, which initially focused on the development of solid state fermentation technology to develop novel enzymes.
  • 1989: Biocon Biochemicals Limited, Ireland, including its subsidiaries, are acquired by Unilever Plc. and merged with its wholly-owned subsidiary Quest International, The Netherlands. Biocon India begins producing enzymes for Unilever’s food businesses.
  • 1990: Biocon scales up its in-house research program based on a proprietary solid state fermentation technology through a new subsidiary Biochemizyme Limited to scale up from pilot to plant level.
  • 1993: Biocon's R&D and manufacturing facilities receive ISO 9001 certification from RWTUV, Germany, making it the first life sciences company in India to get the ISO 9001 Certification.
  • 1994: Syngene is incorporated as a Custom Research Organisation (CRO) in 1994 to provide efficient, high-quality, cost-effective research & development services in chemistry and biology to the global pharmaceutical industry.
  • 1995: Unilever acquires 50% stake in Biochemizyme and creates Biocon Quest India Limited (BQIL), with Biocon and Unilever holding 50% stake each in the entity. A four-fold expansion of Biochemizyme’s solid state fermentation capacity aims to produce a range of fungal enzymes for the food and pharmaceutical industry.
  • 1998: Kiran Mazumdar-Shaw and John Shaw buy out Unilever’s share in Biocon India Limited making it an independent, privately owned company.
  • 1999: Nobel Laureate Prof. James D. Watson, remembered for co-discovering DNA’s double-helix structure, visits Biocon.
  • 2000: Biocon establishes Clinigene as India's first Clinical Research Organisation to develop world-class capabilities for clinical research and related activities. Clinigene, a 100% subsidiary of Biocon, starts providing clinical research services to domestic and multinational companies.
  • 2000: PlaFractor, Biocon’s patented fermentation reactor, is commissioned. The indigenous PlaFractor fermentation platform proved a commercial success as Biocon was the first company to make Mycophenolate Mofetil using this technology in 2000.
  • 2000: Biocon commissions its first fully automated submerged fermentation plant to produce specialty pharmaceuticals.
  • 2001: Biocon is the first company globally to get U.S. FDA approval for making Lovastatin API through an innovative solid state fermentation technology.
  • 2001: Biocon’s proprietary bioreactor PlaFractor is granted a U.S. and worldwide patent.
  • 2002: Biocon establishes a joint venture company, Biocon Biopharmaceuticals Private Limited, with CIMAB S.A., a Cuban biotechnology company, to manufacture biologicals developed by CIMAB, including Nimotizumab & Itolizumab monoclonal antibodies.
  • 2004: Biocon is the first company in the world to commercialise recombinant human insulin (rh-insulin), Insugen, using a novel Pichia pastoris yeast expression system.
  • 2004: Biocon creates a buzz in the stock market in March 2004 with its hugely successful IPO.
  • 2006: Biocon Park, India’s first private Biotechnology SEZ, inaugurated.
  • 2006: First company in India to launch a novel biologic, Nimotuzumab.
  • 2006: India's largest multi-product Biologics facility inaugurated.
  • 2007: Biocon divests enzymes business.
  • 2008: Biocon acquires stake in AxiCorp GmbH, a German pharmaceutical company.
  • 2009: Biocon, Mylan enter strategic global partnership for development of biosimilars.
  • 2009: Biocon launched Insulin Glargine under the brand name Basalog in India, providing diabetes patients with an advanced, affordable insulin therapy.
  • 2009: Biocon Bristol-Myers Squibb Research Centre (BBRC) inaugurated.
  • 2010: Biocon and Pfizer enter into a strategic global agreement.
  • 2011: Biocon starts work on the largest integrated insulins facility in Asia.
  • 2011: Biocon launches INSUPen for patients in India.
  • 2012: Biocon Research Centre Inaugurated.
  • 2013: World’s first anti-CD6 monoclonal antibody Itolizumab commercialised in India.
  • 2013: Biocon House inaugurated.
  • 2013: Biocon establishes Biocon Academy under its CSR agenda.
  • 2014: Biocon introduces world’s first biosimilar Trastuzumab, CANMAb, in India.
  • 2015: Biocon’s research services subsidiary, Syngene, debuts on the Indian stock market.
  • 2015: Biocon’s new insulin devices facility inaugurated in Bangalore.
  • 2016: Biocon Gets its First Generic Formulation Approval in EU.
  • 2016: First biosimilar from India to be approved in Japan.
  • 2017: First company from India to get U.S. FDA approval for a biosimilar.
  • 2017: Biocon’s first overseas facility in Malaysia starts operations.
  • 2017: Biocon outlicenses Itolizumab to Equillium for U.S., Canada.
  • 2017: Biocon launches its biosimilar Bevacizumab in India.
  • 2018: First company from India to have biosimilar commercialised in U.S.
  • 2018: Biocon and Mylan’s biosimilar Insulin Glargine, Semglee, receives European approval for commercialisation.
  • 2018: Biocon, Sandoz enter global partnership for next-gen biosimilars.
  • 2018: Two biosimilars get marketing authorisation in EU.
  • 2019: Biosimilars business consolidated under independent entity Biocon Biologics.
  • 2019: Biocon becomes the first Indian player to launch biosimilar Trastuzumab, Ogivri, in the U.S. through partner Mylan.
  • 2019: Bicara Therapeutics is incorporated as a wholly owned subsidiary of Biocon in Boston, U.S., to focus on developing a pipeline of bi-functional antibodies that exploit the advances in immuno-oncology.
  • 2020: True North makes a primary equity investment in Biocon Biologics.
  • 2020: Itolizumab Gets DCGI Nod for Restricted Emergency Use in Moderate to Severe COVID-19 Patients.
  • 2020: Tata Capital picks up minority stake in Biocon Biologics.
  • 2020: Biocon and Mylan achieve the key milestone of receiving U.S. FDA approval and bringing to market both the vial and pen presentations of Semglee (insulin glargine injection), the first for any company following the reference product.
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