Biocon to launch new drug in July-Sept quarter
MUMBAI (Reuters) - Biocon(BION.NS), India's top listed biotech firm, plans to launch psoriasis drug Alzumab in the country in the July-September quarter, a top company executive said on Friday.
The company expects sales of 1 billion rupees from the drug over four years, Kiran Mazumdar-Shaw, chairman, Biocon said in a conference call.
Late on Thursday, Biocon reported an 8.24 percent rise in net profit to 920 million rupees for the Oct-Dec quarter compared with a year earlier.
(Reporting by Kaustubh Kulkarni; Editing by Prateek Chatterjee)
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India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article