After Biocon Ltd, India's biggest biotechnology company, reported its Q4 earnings yesterday, Kiran Mazumdar Shaw, Chairman and Managing Director, spoke to CNCB-TV18, said, "The main reason for considering a stake sale is not to enter into higher debt."
“Growth has been largely driven by our biologics business which has seen a jump of 47% year-on-year and our research services business saw a jump of 45%,” she said.
The main reason for growth in biologics business is the expanding footprint in the emerging markets and addressing shortages, Shaw told CNBC-TV18.
She said the company have seen strong Q4 which is a good note to end the fiscal year.
"Research services was impacted by fire incident but it is back to normalised growth," she added.
On the growth front, she said the company is confident that FY19 will be a good year.