New Delhi: Biotech giant Biocon has lowered its profit forecasts for the current fiscal. It says profits may fall a bit due to higher depreciation charges and rising research & development expenses.
Biotech giant Biocon has lowered its profit forecasts for the current fiscal.
It says profits may fall a bit due to higher depreciation charges and rising research & development expenses.
The company says revenues may also fall slightly, following a court ruling that will delay the launch of Pravastatin in the US markets. Biocon's CMD, Kiran Mazumdar Shaw says that commoditisation in the generic space is putting pressure on margins, but margins are likely to bottom out soon.
"Margins appear to be under pressure. We are focussing on the US market, where the margins can relatively go up a little," she said.
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