Biocon has announced its consolidated financial results for the fourth quarter and the fiscal year ended March 31, 2021.

Commenting on the results, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, said: "In Q4FY21 our revenues grew 26% YoY to Rs 2,044 Crore driven by our Biosimilars, Research Services and  Generics businesses. On a full-year basis, we reported a revenue growth of 14% led by Biosimilars which grew by 21%, Research Services by 9% and Generics by 6%. For FY21, EBITDA was at Rs 1,907 Crore and core EBITDA margins at 33%. Our determination to keep investing in science to stay a step ahead of the pandemic is reflected in the 19% rise in our Gross R&D spends in the year."

Q4FY21 revenue grew 53% YoY to Rs 664 Crore, driven primarily by strong sales of our biosimilar insulins and monoclonal antibodies in key emerging markets in Latin America and APAC along with improved performance in developed markets.

Responding to the second wave of COVID-19 in India, Biocon Biologics stepped up its efforts to provide its anti-CD6 novel biologic Itolizumab (ALZUMAb-L) to patients. ALZUMAb-L has approval from the Drug Controller General of India for restricted emergency use in treating CRS (cytokine release syndrome) in patients experiencing moderate to severe ARDS (acute respiratory distress syndrome) due to COVID-19. Over 6,500 patients have been treated with Itolizumab so far in April 2021 alone.