Biocon to launch new drug in July-Sept quarter

Biocon , India's top listed biotech firm, plans to launch psoriasis drug Alzumab in the country in the July-September quarter, a top company executive said on Friday.

The company expects sales of 1 billion rupees from the drug over four years, Kiran Mazumdar-Shaw, chairman, Biocon said in a conference call.

Late on Thursday, Biocon reported an 8.24 percent rise in net profit to 920 million rupees for the Oct-Dec quarter compared with a year earlier.

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