Biocon’s shares slid 0.6% to ₹384.55 after the UK regulator approved its Malaysia fill‑finish unit for Semglee. The company’s Q1 net profit surged to ₹141 crore, up 356% YoY, while revenue rose 16% to ₹4,336 crore.
Analysts had forecast ₹4,200 crore in revenue; Biocon beat that by ₹136 crore. EBITDA climbed 10.6% to ₹847.2 crore, and the margin expanded to 19.54% from 19.43% a year earlier, surpassing the 19.2% estimate.
The Medicines and Healthcare Products Regulatory Agency (MHRA) gave its nod for a new Semglee fill‑finish unit at Biocon’s Malaysia facility, a move that tightens the company’s insulin supply chain and could ease shelf‑space pressure in the UK.
CEO Shreehas P Tambe told CNBC‑TV18 that the insulin business is on track to hit a $1 billion revenue mark soon. He added that double‑digit growth is expected in the biosimilar portfolio and that margins could rise to the mid‑20% range as the combined biologics‑generics unit moves from low‑teen to mid‑20% profitability.
Looking ahead, Biocon has set guidance for Q2 that leans on the same margin trajectory and plans to release earnings on March 15. Analysts expect the company to continue benefiting from rising insulin demand in India and a broader biosimilar boom across the region.