Biocon Ltd, a Bangalore based premier biotechnology company, achieved satisfactory financial performance during the first nine months of 2006-07. The net profit increased by 11 per cent to Rs 140 crore from Rs 126 crore in the corresponding period of last year. The company's total sales moved up by 23 per cent to Rs 710 crore from Rs 578 crore, mainly on account of strong growth of 66 per cent in contract research and licensing fees. Its biopharmaceuticals sales increased by 18 per cent to Rs 524 crore and that of enzymes increased by 13 per cent to Rs 68 crore. The earning per share worked out to Rs 14 as against Rs 12.6 in the last period.

Commenting on the results, Dr Kiran Mazumdar-Shaw, chairman and managing director, said, " We are pleased that our investments in R&D and Biocon Park are beginning to deliver healthy and sustainable profits. We are confident that Biocon's research efforts will enable us to participate in large global opportunities in oncology, rheumatoid arthritis and diabetes. Our recently launched BIOMAb-EGFR will undergo trials for label expansion, whilst T1h (anti-CD6 antibody) and IN105 (oral Insulin) are expected to enter phase II clinical trials in 2007."

BIOMAb-EGFR has made a successful debut in the Indian market and is now set to enter the Pakistan market through a licensing arrangement with Ferozsons Laboratories, a leading Onco-pharmaceutical company. The company is now focused on building marketing and distribution capabilities that will provide direct channels o access of international markets. The proposed JV with the NMC Group in Abu Dhabi is the first step in this direction, she added.

US FDA has inspected Biocon's SEZ facilities at Biocon Park in December 2006 and the establishment inspection report is expected by early 2007. The approval will give boost for operations in North American markets for satins and immunosuppresants.