Bengaluru, Feb 13: Biocon Limited , a global innovation-led biopharmaceutical company, today announced its consolidated financial results for the third quarter ended December 31, 2025.

Q3FY26 Financial Highlights:

  • Operating Revenue: Up 9% YoY
  • Total Revenue: Up 11% YoY
  • EBITDA: Up 21% YoY (margin: 22%)
  • Core EBITDA: Up 21% YoY (margin: 29%)
  • Profit Before Tax (PBT) before exceptional items: Up 64% YoY
  • Net Profit (reported): Up 475% YoY
  • Net R&D Investment: 8% of revenue (ex-Syngene)

Segment-wise Performance:

  • Biosimilars (Biocon Biologics): Up 9% YoY
  • Generics (APIs & Generic Formulations): Up 24% YoY
  • CRDMO (Syngene Research Services): Down 3% YoY

Leadership Commentary:

Kiran Mazumdar-Shaw, Chairperson, Biocon Group:

“This quarter reflects the success of strategic initiatives creating a stronger and simpler group structure. Raising significant capital through two QIPs within eight months demonstrates sustained investor confidence. The settlement of structured debt obligations has strengthened our balance sheet, improving PBT margins going forward. S&P upgraded our Biosimilars business to BB+ with a ‘Stable’ outlook, and Fitch revised its outlook to ‘Positive’. The full integration of Biocon Biologics as a wholly owned subsidiary reinforces our One Biocon vision.”

Siddharth Mittal, CEO & MD, Biocon Limited:

“Our Generics business continued strong momentum, with YoY revenue growth of 24%, driven by gLiraglutide launches across EU markets and improved U.S. generic formulations performance. Focus remains on expanding product launches to additional EU markets and the U.S. pending regulatory approval.”

Shreehas Tambe, CEO & MD, Biocon Biologics Limited:

“Biocon Biologics delivered robust performance with EBITDA up 44% YoY, supported by strong demand and favorable pricing. North America continues to drive growth. Launches of Yesintek, Kirsty, Jobevne, and Yesafili expand our portfolio, with upcoming launches of Vevzuo and Bosaya globally. Oncology portfolio expansion with bTrastuzumab SubQ, bNivolumab, and bPembrolizumab positions us well for sustained growth.”

Peter Bains, CEO & MD, Syngene International Limited:

“Despite challenges with a single large-molecule biologics client product, our Research Services business continues to secure new customers and contracts. Notably, the extension of our strategic relationship with Bristol Myers Squibb through 2035 reinforces our long-term collaboration.”

Corporate Developments:

Biocon has completed the full integration of Biocon Biologics Limited as a wholly owned subsidiary, acquiring minority stakes in a transaction valued at approximately USD 5.5 billion. This integration strengthens Biocon’s global position across diabetes, oncology, and immunology, supporting growth in biosimilars, insulins, generics, and GLP-1s.

Outlook:

With a simplified corporate structure, improved balance sheet, and robust portfolio across business segments, Biocon is well-positioned for sustainable growth in FY26 and beyond.