Kiran Mazumdar-Shaw

BANGALORE: Biotechnology major Biocon has maintained its net profit at Rs. 39 crore for the first quarter of the current fiscal ended June 30, 2006, from a year earlier.

Its revenues climbed 21 per cent to Rs. 213 crore from Rs. 176 crore. During the quarter, the company clocked sales of Rs. 212 crore as compared to Rs. 174 crore.

The company said in a release that its operating margins were hit by higher fixed costs at its Biocon Park and continued pricing pressures on its cholesterol-reducing drug statins in the European market.

Biocon Chairman and Managing Director, Kiran Majumdar-Shaw, has forecast a tough year ahead for the company.

"The year ahead will continue to be challenging due to market conditions and the impact of depreciation at our new facilities at Biocon Park," Ms. Shaw said.

Biocon has signed a licensing agreement with the multinational Bayer HealthCare (BHC) for exclusive marketing and trademark rights for the recombinant human insulin INSUGEN for the Chinese market.

DCGI approval

The company has received approval from the Drug Controller General of India (DCGI) for marketing BIOMAb EGFR in the Indian market. The product will first be used in the treatment of head and neck cancers and later extended to other indications.

The company has commenced Phase I human clinical trials of its oral insulin molecule, IN105, to establish proof of concept of its proprietary oral delivery technology, recently acquired from Nobex.

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