Biocon reported a robust financial performance for the second quarter of FY26, with total revenue rising 21 percent year-on-year (YoY) to INR 4,389 crore, compared to INR 3,623 crore in Q2 FY25. Revenue also grew 9 percent quarter-on-quarter (QoQ) from INR 4,022 crore in Q1 FY26, supported by strong momentum in its biosimilars and generics segments, while the CRDMO business performed in line with expectations.   

Revenue from the generics segment stood at INR 774 crore, up 24 percent YoY from INR 624 crore in Q2 FY25 and 11 percent QoQ from INR 697 crore in Q1 FY26. Growth was driven by recent product launches in generic formulations across the US and EU, as well as continued strength in the base business across both formulations and APIs. During the quarter, Biocon commenced global filings of semaglutide (gOzempic) across key markets, including Canada and Brazil, and inaugurated its oral solid dosage manufacturing facility in Cranbury, New Jersey.

The biosimilars segment delivered strong double-digit growth, with revenue reaching INR 2,721 crore, a 25 percent YoY increase from INR 2,182 crore in Q2 FY25 and 11 percent QoQ growth from INR 2,458 crore in Q1 FY26.

In North America, Yesintek gained strong commercial traction, securing a market-leading position. Biocon Biologics also entered into a pioneering partnership with the Government of California through Civica to supply affordable Insulin Glargine. The company launched the first and only interchangeable bAspart with a large integrated delivery network.

In Europe, the company’s biosimilars portfolio maintained stable market shares across products, with an uptick in Ogivri and Abvemy market shares. It expanded the immunology franchise, launching bUstekinumab across seven markets.

Biocon’s CRDMO business reported revenue of INR 911 crore, up two percent YoY from INR 891 crore in Q2 FY25 and four percent QoQ from INR 875 crore in Q1 FY26.

Growth was driven by higher research services revenue, offsetting inventory correction in biologics manufacturing.

Biocon's subsidiary Syngene continues to strengthen capabilities and expand its global footprint. It secured its first global phase III clinical trial from a US- based biotech company. It also expanded its clinical trials footprint to several countries, strengthening global trial execution capabilities through strategic partnerships with well-established CROs in these regions.

Syngene plans to expand its biologics facility in Bengaluru with a GMP bioconjugation suite to provide fully integrated, end-to-end manufacturing of ADCs

Biocon said it continues to build strong and sustained momentum across its biologics business and expects further improvement in profitability in the coming quarters. The company anticipates stronger generics performance in the second half of FY26, supported by new product launches and expanded market reach. Meanwhile, Syngene remains well-positioned to capitalise on emerging opportunities to drive medium- to long-term growth.