Biocon - Commercialization Issues Impact Q3 Earnings: Motilal Oswal
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Motilal Oswal Report
Dr. Christiane Hamacher has stepped down as Managing Director as well as from the board of Biocon Biologics Ltd. effective Jan. 20, 2021, due to professional differences with the chairperson on strategic priorities and the vision for BB.
Dr. Kiran will assume the position of Executive Chairperson at BB. Dr. Arun Chandavarkar will be the new MD and CEO for the next two years.
Biocon Ltd. delivered lower-than-expected Q3 FY21, largely weighed by:
decline in generics sales, and
slower ramp-up in Biosimilars off-take due to Covid-19.
It continues to build a product pipeline of biosimilars/generics.
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