“The funds which we raise from the PE investment and IPO (of Biocon Biologics) will be used to reinvest back into the business including small molecules. The small molecules business was the largest business for Biocon, accounting for over one-third of 2017-18 revenue. However, with biologics reporting faster growth than the small molecules business over the last two years, the newer operation is now larger than small molecules. In the small molecules operations, Biocon will focus on complex APIs, as well as use them to make generic formulations, Mittal said. Sales of the small molecules business is expected to rise about 10-15% over the next couple of years, Mittal said.

Source: Mint January 27, 2020 17:48 UTC