Biotechnology firm Biocon Ltd on Monday (June 3) said it secured approval from the US Food and Drug Administration (US FDA) for its vertically integrated, complex injectable product micafungin, available in 50mg and 100mg vials.
"Biocon has received approval from the U.S. Food and Drug Administration (US FDA), for its vertically integrated, complex injectable drug product, Micafungin (50mg and 100mg vials), used as an antifungal medication to treat fungal or yeast infections," according to a stock exchange filing.
Also Read: BYJU'S processes employees' May salaries from business collections, say sources Micafungin is an antifungal medication used to treat a range of fungal and yeast infections. The approval further strengthens Biocon’s portfolio of vertically integrated, complex drug products, the company said.
Biocon reported a 57% decline in its consolidated net profit to
₹136 crore for the fourth quarter ended March 2024 on account of higher expenses. The company posted a net profit of
₹313 crore in the January-March quarter of the last fiscal.
Also Read: Bharat Dynamics Q4 Results | Net profit zooms 89%, dividend declared Total revenue rose marginally to
₹3,966 crore in the fourth quarter compared with
₹3,929 crore in the year-ago period, Biocon said. The company said its total expenses rose to
₹3,635 crore in the fourth quarter from
₹3,389 crore in the same period of FY23.
For the year ended on March 31, 2024, the company said its consolidated net profit rose to
₹1,022 crore as against
₹463 crore a year ago. Total revenue rose to
₹15,621 crore for the last fiscal as against
₹11,550 crore in the 2022-23 fiscal.
Shares of Biocon Ltd ended at ₹309.35, up by ₹0.050, or 0.016% on the BSE.
