New Delhi: Biocon is betting big on small molecules and generic formulations, biosimilars, branded formulations and research services as it targets $1 billion revenue by the next fiscal.
The Bengaluru-based firm, which has been chasing the target since 2011, has identified these verticals as its key focus areas. Biocon had posted a revenue of Rs 4,078.7 crore in 2016-17.
Other focus areas for the company will be the out-licensing and global development of novel molecules, Biocon said in an investor presentation.
In the area of small molecules and generic formulations, Biocon said it is focusing on the”improved product mix including abbreviated new drug applications (ANDAs)”.
To achieve the revenue target, the company expects meaningful near-term growth in biosimilars that would be driven by emerging markets and by ramping up the entry in post developed markets, it added.
Another key driver would be branded formulations where the strategy is “focused around biologics, differentiated products, and geographical expansion”, the presentation said.
Identifying research services as another key growth driver, Biocon said it is targeting sustained growth momentum with the increase in clients and services, moving from being a contract research organization to being a contract research and manufacturing services with commercial manufacturing.
The company is also looking at the out-licensing and global development of its novel molecules for future growth, the presentation said.
Biocon expects that the growth drivers would be supplemented by the addition of new offerings such as products, services, and partnerships to help the company achieve its target of $1 billion revenues by 2018-19, it added.