Kiran Mazumdar-Shaw

Stock in Biocon jumps after announcement of agreement with Bristol-Myers

Stock in Biocon jumps after announcement of agreement with Bristol-MyersStock in Biocon gained Rs 6.10, or 1.99 per cent, a share after the company announced that it had hit an option agreement with Bristol-Myers Squibb Co for its prandial oral insulin product candidate called IN-105.

The stock hit an intraday high of Rs 321.50 and a low of Rs 311.10. In the prior trading session, the stock gained Rs 12.25 or 4.16 per cent to close at Rs 306.80 a share.

Biocon profits rise 4.7 per cent

Biocon profits rise 4.7 per centIndian biotechnology major, Biocon has reported a 4.7 per cent increase in net profit, ahead of of market expectations, during the second quarter of the financial year.

The Bangalore-based company said that its consolidated net profit increased to Rs 900 million to $16.65 million during the second quarter till September, 2012 compared to Rs 860 million rupees a year earlier reported in the same quarter of the previous year. The revenues of the firm increased 19.3 per cent to 6.42 billion rupees. Market analysts were expecting a net profit of 863.7 million rupees, according to Thomson Reuters I/B/E/S.

Biocon records 15 fall in net profit

Biocon records 15 fall in net profitIndia's leading biotechnology company, Biocon Ltd has reported a fall of 15 per cent in net profit in the quarter till December 2011 mainly due to lower licensing income.

Biocon, which is based in Bangalore, has said that its consolidated net profit fell to 848 million rupees in the third quarter till December 2011 compared to 1.01 billion rupees in the same period previous year.

The total revenue for the company increased 3 per cent in October-December quarter. The company's licensing fees and income fell to 292 million rupees from 768 million rupees in the previous year.

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