Biocon Resolves To Amass $1 Billion Revenue By The 2019 Fiscal Year
Indian drugmaker, Biocon is targeting USD 1 billion revenue by the next fiscal. The company has been chasing the target since 2011, and has now identified these verticals as its key focus areas. Biocon had posted revenue of Rs 4,078.7 crore in 2016-17.
Biocon expects that the growth drivers would be supplemented by addition of new offerings such as products, services and partnerships to help the company achieve its target of $1 billion revenues by 2018-19.
To achieve the revenue target, the company expects meaningful near-term growth in biosimilars that would be driven by emerging markets and by ramping up entry in post developed markets. Another key driver would be branded formulations where the strategy is “focused around biologics, differentiated products and geographical expansion”, the presentation said.
Biocon said in an investor presentation that by identifying research services as another key growth driver, it is targeting sustained growth momentum with increase in clients and services, moving from being a contract research organisation to being a contract research and manufacturing services with commercial manufacturing.
The company is also looking at out-licensing and global development of its novel molecules for
future growth, the presentation said.