As per the latest quarterly report, investment in Bicara Therapeutics was reclassified as an associate investment from subsidiary investment. This resulted in a one-time gain of 160 crores for Biocon Limited and the same has been reported under other income section of the Income Statement. Generics business saw a mild jump in revenue numbers on account of pricing pressure on both API’s and formulations, travel bans causing delay in regulatory approvals and new product launch. Syngene crossed milestone on account of collaboration extension with Bristol Myers Squibb till 2030. The agreement includes drug discovery research, 40% increase in the number of scientists and an additional 50,000 sq. ft. of laboratory space.
Detailed Q4FY21 and FY21 Results analysis