Biocon Q2 Results: Profits up 428% YoY to Rs. 85 crores

Biocon Group on Tuesday reported a 20% year-on-year rise in operating income in the second quarter of FY26, driven by strong growth in biosimilars, improved momentum in generics and continued contribution from the CRDMO segment.

EBITDA increased by 29% to Rs. 928 crore, while the net profit for the period was Rs. 85 crore, compared to Rs. 16 crore compared to a loss of 428% year-on-year, the company said in a notice to stock exchanges.

“With the board’s approval of the settlement of structured debt obligations, we will strengthen our balance sheet, increase financial flexibility and improve profitability,” Biocon Group Chairperson Kiran Mazumdar-Shaw said.

“Our partnership with the State of California under the CalRx initiative by Civica Inc., with the potential to expand to other states, is a milestone in expanding affordable insulin access in the US,” she said. “With a resilient foundation, diversified portfolio and clear strategy, we are well positioned to sustain growth and deliver long-term value to our stakeholders,” added Shaw.

The company’s generics business continued its steady performance with growth of 24% in Q2 mainly driven by the increase in recently launched products in the US and EU, as well as growth in the generic formulation base business and API business.

“A highlight of this quarter was the inauguration of Biocon’s first OSD manufacturing facility in the United States, which is an important step towards expanding access to our vertically integrated portfolio for patients in the region. We have initiated filings for semaglutide (Geozempic) in various markets, including Canada and Brazil,” said Siddththork, Biocon and Brazil Director Man. Limited.

Biocon Biologics posted 25% year-over-year revenue growth and over 40% increase in EBITDA in Q2. Sequentially, revenue grew by 11%, driven by market share expansion in key therapeutic areas and successful new product launches. “In the US, we continue to expand access to biosimilars by leveraging the strength of our commercial platform. In FY26, we launched four biosimilars in key global markets and are on track for bDenosumab launch,” said Srihas Tambe, CEO and Managing Director, Biocon Biologics.