Biocon’s net profits during January-March 2015 surged by 78% at Rs.201.54 crore of which the company got Rs.105 crore by selling some of its stakes in Syngene.
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Its net profits during January-March 2015 surged by a whopping 78 percent at Rs.201.54 crore of which Rs. 105 crores came in as a result of the sale of its stakes in Syngene. The profits during January-March 2014 was registered at Rs. 90.93 crore.
In a statement, chief managing director Kiran Mazumdar-Shaw said: "As we move into the fiscal year 2016, we are clearly seeing our biosimilar strategy playing out with greater clarity, credibility and traction visible across our portfolio of biologics as they advance in clinical development. We continue to make investments in Research and Development as a strong future value driver."
Source-Medindia