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Biocon to pump USD 200 million on capex in FY21

Friday, 03 Jul 2020
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Biocon is looking to invest USD 200 million (around Rs 1,500 crore) in FY21 on capital expenditure.

The investment will be split across small molecules and biosimilar verticals. The capex will be funded through a combination of contribution from internal accruals, debt raise as well as additional private equity investment in Biocon Biologics.

The company's capital expenditure during FY20 stood at Rs 974.2 crore.

In FY20, the company invested in a new manufacturing facility in Visakhapatnam, Andhra Pradesh for immunosuppressant products, which comes under the small molecules segment.

In biosimilars, major spends were on account of the greenfield antibody facility in Bengaluru, Karnataka incremental drug substance and drug product capacities within existing plants and research and development (R&D) facility in Chennai, Tamil Nadu.

The company has a rich pipeline of 28 molecules in its biosimilars business which will require investments. Additionally, the company will continue to invest in its select pipeline of novel biologic products.

On small molecules business segment, the company expects revenue growth in the vertical to be between high single-digit and low teens over the next two years.

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