Biocon reports 18% biosimilars growth, raises $540m

Biocon Limited reported 18% year-over-year revenue growth in biosimilars and 6% increase in generics for Q1 FY26. Total revenue reached ₹4,022 crore with core EBITDA at ₹1,003 crore, up 11%.

The company raised ₹4,500 crore through a qualified institutional placement, its first equity fundraise since its 2004 IPO. The capital will increase its stake in Biocon Biologics and provide exit for private equity investors.

Key approvals include US FDA clearance for insulin biosimilar Kirsty and launch of Yesafili, the first biosimilar Aflibercept in Canada.