January 25, 2013 / 6:42 AM / 5 years ago

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.

Kiran Mazumdar-Shaw, chairman and managing director of Biocon Ltd., speaks during a news conference in Bangalore March 8, 2007. REUTERS/Jagadeesh Nv/Files

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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