- Branded Formulations
Our Branded Formulations business has enabled us to carve out a premium niche for ourselves as a biologics-led, specialty products company focused on chronic therapy areas. Yet, our 'credible capability'
lies in deftly balancing affordability with innovation to make world-class therapies available and accessible to millions of patients in India.
Branded Formulations business has been a strong value builder for Biocon. We have built considerable brand equity with doctors and patients over the years through our affordable and differentiated portfolio in challenging disease spaces. A combination of products, patients and physician support programs have enabled us to achieve market leadership in the therapeutic areas of diabetology, oncology, immunology and critical care.
We are focused on specialty therapy segments to build premium, commanding brands that stand out as innovative and highly differentiated. The modest performance of the Branded Formulation business this year was on account of portfolio optimization to restore focus on key specialty brands having a potential to be a big brand. This rationalization exercise notwithstanding, the business clocked in sales of over Rs. 1,000 million in each quarter of FY16. The growth of our flagship brands, especially in Metabolics and Oncotherapeutics, has been healthy with our India insulin franchise, crossing Rs. 1,500 million in sales this year. The focus on anchor brands like Insugen®, Basalog®, BIOMAb EGFR®, CANMAb™, and ALZUMAb™ has enabled them to maintain their positions among the
‘Top Three’ brands in their respective segments.
We expanded our portfolio with several new, first-of-its-kind offerings in the Indian market this year, and some have gained rapid acceptance among physicians and patients alike. Being a patient-centric organization, our divisions conducted patient and physician awareness programs all over India during the year.
These programs not only helped educate patients and doctors in disease prevention, detection and management, but also helped in building the value of Brand Biocon. We are confident that our strategic initiatives in this business will enable us to deliver consistent profitable growth in the foreseeable future.