Biocon shares in focus as company inaugurates first manufacturing facility in the US

Shares of the leading Pharmaceutical company, Biocon, will be in focus after the company announced the inauguration of its first manufacturing plant in the US. The shares closed flat ₹364 apiece on the NSE on Wednesday.

Biocon’s wholly owned subsidiary, Biocon Generics Inc., opened its first manufacturing facility in Cranbury, New Jersey. The Honourable Governor of New Jersey, Phil Murphy, was the guest of honour at the inauguration. Biocon’s Chairperson, Kiran Mazumdar-Shaw, and a distinguished gathering of dignitaries, customers, partners, and industry leaders were in attendance. Biocon acquired the Oral Solid Dosage (OSD) facility from Eywa Pharma Inc. in 2023 and has since invested over USD 30 million to establish a state-of-the-art plant with an annual production capacity of 2 billion tablets.

A few products have already been commercialised from the site, with several more in the pipeline. This investment helps Biocon diversify its manufacturing base, strengthen its supply chain and accelerate the expansion of its global footprint. The Cranbury facility represents a strategic advancement for the Company’s U.S. operations, enabling faster access to essential therapies, enhanced supply reliability and a stronger connection with partners and healthcare providers, ultimately benefitting patients across the United States.

In the latest quarterly earnings season, the company’s revenue for the quarter jumped 14.8% YoY to ₹3,941 crore as against ₹3,432 crore. On the other hand, the operational profit or EBITDA for the quarter stood at ₹748 crore, up by 20% YoY. Whereas the bottom line for the quarter stood at ₹89 crore as compared to ₹861 crore, which included higher other income.

Kiran Mazumdar-Shaw, Chairperson, Biocon Group, said, “Biocon’s first U.S. FDA-approved The formulations facility in New Jersey marks a new chapter in our global expansion journey. More than a milestone, it is a reaffirmation of our purpose to serve patients wherever they are.