Biocon’s FY20 Growth Will Be Driven By Twin Drug Launches, Says CFO Siddharth Mittal

FY20 is going to be a very important year for us, said Biocon’s President and CFO Siddharth Mittal.

Mahima Kapoor @mahimakapoor12

29 May 2019, 02:11 PM IST

An employee in protective clothing takes a sample is reflected in equipment inside the research and development center at the Biocon Ltd. campus in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)

The launch of Trastusumab and Glargine in U.S. and European markets would drive Biocon Ltd.’s growth for financial year 2019-20, according to the drugmaker’s Chief Financial Officer and President Siddharth Mittal.

“FY20 is going to be a very important year for us,” he told BloombergQuint, while speaking about the drug launches.

The pharmaceutical sector has been going through “troubled times” with U.S. regulations, pricing problems and competition in large countries like India and Indonesia, Mittal said, adding that the entire industry is in a wait-and-watch mode. “Till these issues are resolved, everybody's question is, is this the sector to invest in?”

Mittal, however, was more optimistic about Biocon. He said the company expects the generic segment’s growth to pick up to mid-teens as U.S. pricing stabilises and the drugs recently launched there begin to yield results.

Watch the full conversation here: