A Milestone in Biopharmaceutical Innovation
Biocon Ltd and its subsidiary, Biocon Biologics Ltd, have taken a monumental step by releasing their first-ever Integrated Annual Reports for the fiscal year 2023. These reports are not just financial statements; they are comprehensive guides that offer insights into the companies’ multi-faceted performance, from financial metrics to ESG initiatives.
The Six Capitals: A Holistic Framework for Value Creation
The reports are structured around six key capitals—Financial, Intellectual, Human, Manufacturing, Natural, and Social & Relationship. These capitals serve as the backbone for the companies’ operations, guiding them in creating sustainable value for a wide array of stakeholders, including patients, partners, and shareholders.
Biocon Ltd: A Relentless Pursuit for Differentiated Growth
Biocon Ltd’s report is themed “Relentless Pursuit. Differentiated Growth.” It emphasizes the company’s unwavering commitment to providing affordable, high-quality healthcare products and services. The report also highlights how ESG factors have been seamlessly integrated into Biocon’s core growth strategy.
A Word from the Executive Chairperson
Kiran Mazumdar-Shaw, the Executive Chairperson of both companies, stated, “Our diversified portfolio and focus on sustainability have positioned us as a unique and differentiated enterprise.”
Biocon Biologics: A Year of Transformational Growth
Biocon Biologics has had a landmark year, marked by a historic acquisition that has been a pivotal moment in its transformational journey. The company’s first standalone Integrated Annual Report narrates this story and outlines its future-focused strategy.
CEO’s Vision for the Future
Shreehas Tambe, CEO and Managing Director of Biocon Biologics, said, “Our top priorities are Strengthening the Core, Accelerating Growth, and Investing in the Future.”
Financial Highlights
The acquisition led to a staggering 61% increase in Biocon Biologics’ revenues, reaching ₹55,838 million (USD 681 million) in FY23.
ESG Commitments: More Than Just Numbers
Both companies are deeply committed to ESG programs, aiming to increase product accessibility, reduce carbon emissions, and promote diversity in the workplace.
FAQs on Biocon and Biocon Biologics Integrated Annual Reports for FY 2023
What are the Six Capitals in the Integrated Annual Reports?
The Six Capitals refer to Financial, Intellectual, Human, Manufacturing, Natural, Social, and relationship capitals that guide companies in creating sustainable value.
What was the major acquisition by Biocon Biologics?
Biocon Biologics acquired Viatris’ global biosimilars business on November 29, 2022.
How can I access these reports?
The reports are available for download on www.biocon.com.
