(Adds detail on breast cancer drug Abraxane)
MUMBAI (Thomson Financial) - Biocon Ltd said it has won Indian regulator
approval to market breast cancer drug Abraxane in the country, and separately
posted a higher first-half profit after tax.
"We are confident that we will continue to deliver growth and profitability
despite challenges posed by dollar depreciation and the loss of enzyme income,"
said chairman and managing director Kiran Mazumdar-Shaw.
Earlier this year, Biocon completed the sale of its enzymes division to
Denmark's Novozymes AS for 4.67 bln rupees, which it said will lead to an
exceptional net gain this fiscal year.
For the six months to Sept 30, the biotechnology company reported a profit
after tax of 1.07 bln rupees, 27 pct higher than the year earlier, as
consolidated revenues grew 19 pct to 5.53 bln.
Profit was boosted by 60 pct dollar-terms and 43 pct rupee-terms growth at
Biocon's wholly owned research unit Syngene.
Biocon received the approval to market Abraxane from the Drug Controller
General of India.
Abraxane, which uses a human protein called albumin and not chemical
solvents, is a product of US-based Abraxis BioScience Inc.
Biocon added that global revenue for the drug reached 175 mln usd in the
first phase of its launch.
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