Biocon Limited is an India-based biopharmaceutical company, which focuses on treating diabetes, cancer and autoimmune diseases. Its segment includes Generics, Biosimilars, Novel Biologics and Research Services. It is one of the top 5 global players in biosimilars and among the top 3 in insulins. It ranks in the top 15 companies worldwide for biomanufacturing capacity and has a presence in 120+ countries, including the U.S., Europe, and emerging markets.
The company operates as a fully integrated biopharmaceutical enterprise with a comprehensive portfolio spanning across critical therapeutic areas. It has developed and commercialized novel biologics, biosimilars, and complex small molecule active pharmaceutical ingredients (APIs) in India and several key global markets, as well as Generic Formulations in the United Sates, Europe and key emerging markets. It has over five facilities across Bangalore, Hyderabad and Visakhapatnam in India. Its API manufacturing facilities leverage complex technology platforms that range from microbial fermentation, chromatographic purification, chemical synthesis, peptide synthesis and HPAPIs.
Biocon has a market cap of ₹50,811 crore as of July 2025, up 2.66% in 1 year, with revenue of ₹15,262 crore and profit of ₹1,429 crore. The company demonstrated strong financial performance in Q4 FY25 with significant improvements across key metrics.
For the fiscal fourth quarter and financial year ended March 31, 2025, the company announced consolidated financial results. The Biocon Group ended the year with a strong performance across its businesses. The launch of Liraglutide in the UK market heralded their entry into the GLP-1 therapy segment. Their Biosimilars continue to build impressive shares in global markets with four biosimilars recording sales of USD 200 million each in FY25.
**Key Financial Metrics Q4 FY25:**
- Revenue: ₹4,454 crore (up 15%)
- EBITDA: ₹1,115 crore (up 16%)
- Net Profit: ₹344 crore (up 153%)
**Annual Performance FY25:**
- Net profit jumped 154.24% since last year same period to ₹344.50 crore in Q4 2024-2025
- Dividend declared: ₹0.50 per share for March 2024 quarter, translating to a dividend yield of 0.57%
Biosimilars represents 58% of revenue in FY25 vs 50% in FY23, with Biocon Biologics developing and marketing a range of 20 biosimilars including insulins, monoclonal antibodies, and conjugated recombinant proteins across diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases. Its product portfolio includes 10 approved biosimilars and 10 under development.
The biosimilars segment continues to demonstrate strong market presence globally. The oncology franchise, comprising Ogivri® (bTrastuzumab) and Fulphila® (bPegfilgrastim), witnessed significant increase in demand, with market share for Ogivri® doubling to 22% from 11% last year, while the share for Fulphila® rose to 23% from 19% a year ago. The shares of the insulin franchise, which includes Semglee® and unbranded Insulin Glargine, continued to be in the mid-to-high teens, including all channels.
The company's research services segment, primarily through Syngene International, provides integrated research and development services to global pharmaceutical companies. The Biocon Group reported Q3FY25 Operating Revenue of ₹3,821 crore, with performance driven by sustained double-digit growth of 14% on a like-for-like basis in Biosimilars and a return to growth in Research services, which grew by 11%. The growth trajectory is clearly visible with sequential growth across all the three business segments.
The API portfolio includes cardiology, anti-diabetics, immunosuppressants, multiple sclerosis, anti-cancer/oncology and other key products. Its products include Tacrolimus, Rosuvastatin, Simvastatin, Atorvastatin, Pravastatin, Fingolimod and others.
In June 2025, Biocon's Yesafili biosimilar was approved by Health Canada with launch scheduled for July 2025 in Canada. In July 2025, EU approved Biocon's Denosumab biosimilars Vevzuo® and Evfraxy® for bone health treatments.
The Company received U.S. Food and Drug Administration (FDA) approval for YESINTEK™ (Ustekinumab-kfce), a biosimilar to the reference product, Stelara® (Ustekinumab) and is preparing for a February 2025 launch, which will strengthen its immunology portfolio in the U.S.
Biocon has doubled its insulin manufacturing capacity in Malaysia, positioning itself as a key player in the market. Chairperson Kiran Mazumdar-Shaw anticipates significant growth in FY26, driven by rising global demand for insulin. Biocon Biologics supplied 100M+ insulin cartridges in Malaysia, serving 345,000+ patients since 2016.
Biocon raised ₹4,500 crore through QIP to reduce debt and increase its stake in Biocon Biologics. Additionally, it partnered with NCSM to enhance cancer treatment accessibility in Malaysia, aiming to support underserved patients. Biocon Ltd has initiated a Qualified Institutional Placement (QIP) to raise ₹4,500 crore, setting a floor price of ₹340.20 per share. The funds will be used for debt repayment and growth initiatives.
Biocon maintains a promoter holding of 54.4% and trades on both NSE and BSE exchanges. The stock symbol of Biocon is NSE: BIOCON on the NSE, BSE: 532523 on the BSE, and the ISIN is INE376G01013.
The company has established itself as a global leader in affordable healthcare solutions, particularly in biosimilars and insulin therapy. The company marked expansion of Syngene's biologics manufacturing footprint through acquisition of a state-of-the-art manufacturing facility in the U.S. FY25 has been a year of consolidation and transition, with the company now on a path of accelerating growth with a commitment to innovation, digital augmentation and operational excellence.
With a strong pipeline of biosimilars, expanding global presence, and strategic focus on high-growth therapeutic areas like diabetes and oncology, Biocon is well-positioned to capitalize on the growing demand for affordable biologics and complex generics worldwide. The company's integrated business model spanning research, development, manufacturing, and commercialization provides competitive advantages in the evolving biopharmaceutical landscape.
