Indian Biotech major Biocon headquartered in Bangalore has consolidated net profit at rupees 65.30 crores for the fourth quarter and reported a 7.57 per cent growth for the fourth quarter.
By K G Vasuki
Bangalore, Apr 23 : Indian Biotech major Biocon headquartered in Bangalore has consolidated net profit at rupees 65.30 crores for the fourth quarter and reported a 7.57 per cent growth for the fourth quarter.
Announcing this, Dr. Kiran Majumdar Shaw, CEO of Biocon has said that the growth was satisfactory and the board has decided to announce one extra share per share.
According to her, the company has decided to split up its cardio-diabetes division by launching a stand-alone cardiology division.
The new division is being set up to focus on brand building for its flagship product Statix as well as other products like Telmisat and Eptifibatide and Biocon.
The cardiology market in India constitutes 10 per cent of the pharma market in the country estimated at Rs 3,200 crore. This division is envisaged to have an allndia presence.
Biocon also said it is close to acquire a 70 per cent stake in German pharma company AxiCorp GmbH for a consideration of Rs 189 crore.
ANI