Biocon - Update - Clinigene turns profitable - Business Standard

Clinigene International, a wholly-owned subsidiary of Biocon, has turned profitable and is eyeing revenues of Rs 100 crore before a public listing.

According to Kiran Mazumdar Shaw, chairperson and managing director, Biocon group, “Clinigene, has become profitable and the company will possibly take the same route as Syngene in the years to come. But Clinigene is still not at a stage where we can say it has reached critical mass.”

“Clinical trials is a huge opportunity for India, and given the fact that there is a lot of pressure on big pharma firms to reduce its cost of drug development we are seeing Clinigene bag a lot of new clinical trial orders and business, and I think this is something which also will grow Clinigene with a good growth trajectory,” she added. During the third quarter, the company had to take on the burden of the increased depreciation.

“The new facilities created for Clinigene and the full value of the business as a result of the expansions have not been captured this quarter. They will only be captured in the quarters going ahead,” she said.



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