Biocon Group has reported a strong financial performance for the fourth quarter of fiscal year 2025, with consolidated revenue reaching Rs 4,454 crore, representing a 15% year-on-year growth on a like-for-like basis. The company's performance was driven by significant market share gains in biosimilars and new product launches across its business segments.
Financial Performance Highlights
For Q4FY25, Biocon's Group Core EBITDA stood at Rs 1,363 crore, up 16% from the previous year, with a healthy core operating margin of 31%. The company's EBITDA for the quarter increased by 16% to Rs 1,115 crore, with a margin of 25%. Net profit after exceptional items surged by 153% to Rs 344 crore.
For the full fiscal year 2025, Biocon reported consolidated revenue of Rs 16,470 crore, representing a growth of 8% year-on-year on a like-for-like basis. The Group Core EBITDA was up 2% to Rs 4,264 crore, with a core operating margin of 28%.
"The Biocon Group ended the year with a strong performance across its businesses," said Kiran Mazumdar-Shaw, Chairperson of Biocon Group. "FY25 has been a year of consolidation and transition. We are now on a path of accelerating growth with a commitment to innovation, digital augmentation and operational excellence."
Biosimilars Business Performance
Biocon Biologics, the company's biosimilars division, continued its growth momentum in Q4FY25, delivering a robust 9% year-on-year revenue increase. For the full year, the division recorded a strong 15% growth, serving over 5.8 million patients globally.
A significant milestone for the quarter was the launch of Yesintek™ (ustekinumab-kfce), Biocon's fifth biosimilar product in the U.S. market. This biosimilar to Stelara® is witnessing strong physician adoption and broad formulary coverage with potential to benefit 100 million lives. Yesintek has also been commercialized in Germany this quarter and has received marketing authorization from PMDA in Japan.
"Regulatory approvals of our manufacturing facilities from USFDA and EMA have enabled the launch of Yesintek™, our bUstekinumab, in the U.S. and Europe," said Shreehas Tambe, CEO & Managing Director of Biocon Biologics Limited. "Having built a strong foundation, we are well positioned to launch 5 new products in the next 12-18 months and expand patient access."
Market Share Gains in Advanced Markets
Biocon's biosimilars have shown impressive market share gains in key markets. In the U.S., Ogivri® (bTrastuzumab) doubled its share to 26% from 12%, while Fulphila® (bPegfilgrastim) rose to 30% from 16% over the past year. In Europe, Ogivri® and Abevmy® (bBevacizumab) increased market shares to 15% and 9%, respectively.
The company reported that four of its biosimilars have each recorded sales of USD 200 million during FY25, highlighting the commercial success of its portfolio.
Additionally, the U.S. FDA has approved Jobevne™ (bevacizumab-nwgd), a biosimilar to Avastin®, which will strengthen the company's oncology portfolio in the U.S. Biocon Biologics has also secured a U.S. market entry date no later than the second half of 2026 for Yesafili™ (aflibercept-jbvf), a biosimilar to Eylea®, following a settlement with Regeneron.
Generics Business Performance
Biocon's Generics business delivered a healthy 46% year-on-year and a robust 53% sequential growth in Q4, concluding FY25 with an overall 8% growth over the previous year. The performance was primarily driven by contributions from new product launches, notably Lenalidomide and Dasatinib in the U.S., supported by modest growth in the API business.
"Looking ahead, we remain focused on the strategic expansion of our differentiated GLP-1 portfolio into new markets, which will position us well for growth," said Siddharth Mittal, CEO & Managing Director of Biocon Limited.
Emerging Markets Expansion
The Emerging Markets business reported a strong performance across all geographies and products, supported by tender wins for bBevacizumab and rh-Insulin. With 12 regulatory approvals and several regulatory filings made for bUstekinumab, bDenosumab, and bAflibercept in multiple countries, the company is focused on expanding patient reach across regions.
Strategic Initiatives
The Board of Directors has approved raising funds up to Rs 4,500 crore through various routes, including qualified institutional placements and rights issues. These funds will be used for repayment of borrowings, fulfillment of financial commitments, and investments in subsidiaries.
Additionally, the Board is constituting a committee to evaluate various strategic options for restructuring, including the potential merger of Biocon Biologics and Biocon Limited.
Dividend Announcement
The Board of Directors has recommended a final dividend of Rs 0.50 per share at the rate of 10% of the face value of the share for the financial year ended March 31, 2025.
Future Outlook
With a strong foundation in place, Biocon is well-positioned for accelerated growth in the coming years. The company's focus on expanding its biosimilars portfolio, strategic partnerships, and operational excellence is expected to drive continued success in the global biopharmaceuticals market.
The launch of Liraglutide in the UK market has heralded Biocon's entry into the GLP-1 therapy segment, which represents a significant growth opportunity. The company's commitment to innovation and digital augmentation will further strengthen its competitive position in the industry.
