Biosimilars to Help India's Biocon to Hit $1 Billion in Revenue, an Industrial Info Market Brief

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Backed by steady growth in its biosimilars business, Indian bio-pharmaceutical major Biocon Limited is expected to reach $1 billion in revenue this fiscal year.

Biocon's biosimilars business launched in Japan in 2016, when the insulin Glargin became its first major product. The business has contributed more than $220 million of revenues in the last fiscal year, from just $49 million three years ago. The company reported a 72.34% increase in its consolidated net profits for the quarter ended June 30.

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