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FOR IMMEDIATE RELEASE

Biocon launches INSUPen®, a convenient and affordable reusable insulin delivery device Bangalore, October 20, 2011: Biocon, Asia’s premier biotechnology company, launched in India its reusable insulin delivery device INSUPen® on October 17, 2011. A world-class, differentiated device based on proprietary German technology, INSUPen® is a first-in-class reusable delivery device - INSUPen is insulin with ease. It is designed for efficiency, accuracy and safety and can deliver both Basalog™ and Insugen™, thus maximizing patient convenience. INSUPen® was launched by Biocon Chairman and MD Kiran Mazumdar-Shaw at a gala event. INSUPen® is a breakthrough in Diabetes delivery devices because of three unique firsts: • First German technology pen offering the best user-friendly features • First to offer needles complimentary with every refill • First to offer a choice of 3 colors for clear insulin differentiation. To take INSUPen® ease to a totally new level for users, Biocon has created a support system that takes care of every possible need. Biocon has recruited a team of 125 Diabetic Care Advisors across India to support Biocon’s existing helpline for Diabetics. Biocon’s ‘One call does all’ offers complementary wide-ranging support for this device including at-home product demos, counseling on lifestyle changes, and answers to product-related queries. One of the recurring costs that Diabetes patients must bear is the cost of needles. For the first time, Biocon offers two complimentary needles with every refill either of Basalog™ Refil or Insugen™ Refil. All variants of refill for both Basalog™ and Insugen™ work with INSUPen® and come in an innovative packaging. All that the patient needs to do is decide which colour INSUPen® they want to use for the Basalog insulin refill and which one for the Insugen refill. “Designed keeping in mind the ease and convenience of Diabetic patients, INSUPen® will help transform their lives. Manufactured with high precision German technology, and offered with Biocon’s Insugen™ & Basalog™ refills accompanied by complimentary needles, INSUPen® is a true value proposition. Biocon has also ensured that INSUPen® is affordable. Relative to top competitors, Biocon’s Insugen™ & Basalog™ refills will have annual benefit of Rs 1200-Rs 1500 to the Diabetes patients (average usage). I am confident that INSUPen® will be a delight for patients and a value enhancer for all stakeholders,” said Rakesh Bamzai, President, Marketing Biocon. The reusable INSUPen® is available at an MRP of Rs 675. The Basalog Refil (3x3ml pack), is priced at Rs 1305and the Insugen Refil (5x3ml pack) at Rs 779.50 Biocon is driven by the need to make a difference in the lives of the large number of people across the globe who are afflicted by Diabetes. India is the Diabetes capital of the world with over 40 million of the world’s Diabetics being in India. Chances are, by 2025, 1 in 5 Diabetics worldwide is likely to be an Indian. Biocon hopes to make a difference to the lives of these Diabetics with INSUPen®.

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About Biocon Limited Established in 1978, Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's largest biotechnology company by revenue. The Group, promoted by Ms. Kiran Mazumdar-Shaw, is a fully-integrated, innovation-driven healthcare enterprise with strategic focus on biopharmaceuticals and research services. Biocon’s value chain traverses the entire length of discovery, development and commercialization of novel therapeutics. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers in approximately 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Biocon’s robust product offering includes the world’s first Pichia-based recombinant human Insulin, INSUGEN® and India’s first indigenously produced monoclonal antibody BIOMAb-EGFR(TM).www.biocon.com Media Contact: Varija Belliappa Biocon Limited Tel: +91 80 2808 2223 Fax: +91 80 2852 3423 Email: varija.belliappa@biocon.com

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Press Release: 2

Bangalore, India October 19, 2011

BIOCON LIMITED ANNOUNCES EARNINGS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2011.

BIOCON POSTS A STRONG 17% YOY GROWTH IN REVENUES IN H1FY12;

LAUNCHES INSULIN DELIVERY DEVICE INSUPen®

Revenues at Rs 978 crores; EBITDA at Rs 282 crores; PAT at Rs 156 crores

Commenting on the results, Chairman and Managing Director Kiran Mazumdar-Shaw stated, “I am pleased with the good progress we have made in the first half. I am particularly encouraged that this growth has been attained across all our verticals. The performance in Branded Formulations and Research Services has been particularly strong. The Branded Formulations segment has delivered a solid 37% YoY growth while Research Services has grown by a robust 20%. The recent launch of INSUPen®, our long-awaited device for Insulin delivery, is expected to further propel sales in our Branded Formulations vertical. H1FY12 has delivered a Group PAT of Rs. 156 crores. The global economic outlook is challenging at the moment. Nevertheless, I believe that the Biocon Group will continue to deliver broad-based growth in the second half.”

Biocon Group (consolidated) For Half-Year ended September 30, 2011

• Revenues at Rs 978 crores. Up 17% YoY. • EBITDA at Rs 282 crores. YoY growth of 11%. • PAT at Rs 156 crores. YoY growth of 6%. • EBITDA Margin at 29%. • Earnings Per Share at Rs 7.8.

For three-months ended September 30, 2011 • Revenues at Rs 524 crores. Up 23% YoY. • EBITDA at Rs 149 crores. YoY growth of 9%. • PAT at Rs 86 crores. YoY growth of 5%. • EBITDA Margin at 29%. • Earnings Per Share at Rs 4.3.

Headcount at ~5,800 employees.

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Business Performance and Outlook Biopharmaceuticals

The Biopharma business posted a 15% YoY increase in revenues in the first half of this fiscal on the back of strong growth across all segments including Statins, Immunosuppressants and Insulins. Sales of Fidaxomicin API to Optimer began in June 2011. Biocon is the sole supplier of the drug substance for global markets. There has been better-than-expected off-take in Fidaxomicin API and Biocon is focussed on improving operational efficiencies to meet the increased demand.

Biosimilar Insulins – Our co-marketing partner, Pfizer, launched Insulin and Glargine under the brand names Univia and Glarvia this past quarter in India.

Launch of INSUPen® – Biocon launched in India its reusable insulin delivery device INSUPen® on October 17, 2011. INSUpen® is a differentiated device based on proprietary German technology designed for efficiency, accuracy and safety. INSUPen® is a first-in-class reusable delivery device and is unique in being able to deliver both BasalogTM and InsugenTM, thus maximizing patient convenience. Additionally, a team of 125 Diabetic Care Advisors has been recruited across India to support Biocon’s existing helpline for diabetics. Biocon’s “One call does all” offers complementary wide-ranging support for this device with several perquisites like at-home product demos, counseling on lifestyle changes and answers to product-related queries. INSUPen® has a choice of 3 colors with a complimentary set of needles with every refill cartridge of BasalogTM and InsugenTM.

Biosimilar MAbs – Commenting on the progress of the biosimilar MAbs program, Rakesh Bamzai, President Marketing said, “Biocon and its co-development partner, Mylan are very satisfied with the operational progress we are making with our development programs for biosimilars. We have achieved a number of important milestones in these programs and are on track to obtain registrations in time to meet our estimates for market formation for the key molecules in our programs.”

Malaysia project – The ground breaking for the green-field biopharmaceutical facility in Malaysia took place on 10th September 2011 in the presence of Honorable Y.A.B. Dato Haji Abdul Ghani bin Othman, Chief Minister of Johar, Malaysia.

Branded Formulations – The six divisions in Branded Formulations, namely, Diabetology, Oncotherapeutics, Nephrology, Cardiology, Immunotherapy and Comprehensive Care, have posted a combined YoY growth of 37% for H1FY12.

Diabetology – Biocon jumped from #5 to #4 in the overall insulin segment, with a 46% growth rate that outpaces that of the market’s 26% as per MAT August 2011. InsugenTM 40 IU, Biocon’s flagship brand of insulin, is ranked #3, having posted a YoY growth of 40% as of August 2011 MAT. BasalogTM, in its third year of introduction continues to grow at a healthy 86%, now commanding the #1 position in Glargine vials.

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The Orals category of Diabetology saw the launch of VolicoseTM and Metadoze VTM for the management of post-prandial glucose.

Comprehensive care – Most brands in this segment now rank in the top 20 brands in their categories. The second quarter saw two new launches – TeconinTM for bone and joint infection and Vancowar CPTM for MRSA (Methicillin resistant Staph. Aures).

Nephrology – The second quarter of FY12 saw the Nephrology business unit deliver a strong double-digit growth of 18% driven by a strong 25% growth in the renal transplant portfolio comprising of TacrografTM, RenodaptTM, and Cyclophil METM.

This past quarter also saw the positioning of Erypro SafeTM as the first clinically evaluated rHuEPO-alpha in Indian patients with a good immunogenicity profile.

During the quarter, the Nephrology business unit launched NeporinTM, a brand of unfractionated Heparin sodium; Heparin is widely used as an anti-coagulant during Hemodialysis for chronic kidney disease patients.

Oncotherapeutics – Growth in this segment was primarily driven by Abraxane which continues to be ranked 3rd in the taxane market and BIOMAbTM which is currently 2nd in the anti-EGFR MAb market.

Brand EvertorTM was launched in January 2011. The brand has grown by 62% in value terms in Q2FY12 over Q1FY12. Evertor is the first and only generic brand of Everolimus in India.

Immunotherapy – All the three brands launched by the Immunotherapy business unit TBISTM (Tacrolimus), PICONTM (Pimecrolimus) and PSORIDTM (Cyclosporin) have made significant progress in their markets. According to ORG IMS, TBIS has become the 3rd largest brand of Tacrolimus in value in India in the first year of its launch. PSORIDTM has proved to be an important treatment option for the dermatologists for their patients suffering from Psoriasis.

Cardiology – In the second quarter of this fiscal, this business unit grew by ~20% vis-a-vis last year compared to the market that grew at 15%. ClotideTM continues to be the number one brand and MyokinaseTM is ranked 2nd in India.

Research Pipeline – Biocon continues to advance its novel portfolio, including the Anti-CD6 (Itolizumab) and Anti-CD20 (BVX-20) programs. The currently ongoing TREAT-PLAQ Phase 3 study in Psoriasis should be completed in the fourth quarter of this year with the results likely available in the first quarter of next year. The Phase 1 study for BVX-20 is expected to start in the first quarter of next year. We continue to engage with global pharmaceutical companies for partnering our novel IN-105 oral insulin program. On the Phybrid program with our co-development partner Amylin, there are plans to submit an IND and commence phase 1 study by end of 2011. On licensing, Dr. Arun Chandavarkar, Chief Operating Officer, said “Partnering our R&D assets and entering into commercialization partnerships, both global and regional, continue to be an important aspect of our business strategy. This will generate income through licensing and milestones over the

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next few years. However, this revenue stream will have a fairly high degree of volatility and unpredictability.” Research Services – Syngene has delivered a robust half year performance with sales growing at 20% YoY. Commenting on this performance Peter Bains, Director, Syngene International, said, ‘’ This has been another encouraging quarter and carries forward the momentum of the first quarter to give a very solid half-year position. Our strong sales are driving improved operational performance and we are continuing in our strategy to invest in both our capacity and our range and depth of capabilities to enable Syngene to offer stronger, broader and higher value services to serve our clients’ needs to support their discovery and development goals.’’ Management update – With effect from 1st November 2011, Dr. Abhijit Barve, currently COO, Clinigene will assume charge as President, R&D of Biocon. Commenting on this important management announcement, CMD Kiran Mazumdar-Shaw, said “Given the advancement of Biocon’s research pipeline increasingly into the clinic, Dr. Barve’s extensive experience in clinical research will be a critical asset to Biocon’s R&D.”

About Biocon Established in 1978, Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's largest biotechnology company by revenue. The Group, promoted by Ms. Kiran Mazumdar-Shaw, is a fully-integrated, innovation-driven healthcare enterprise with strategic focus on biopharmaceuticals and research services. Biocon’s value chain traverses the entire length of discovery, development and commercialization of novel therapeutics. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers in approximately 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Biocon’s robust product offering includes the world’s first Pichia-based recombinant human Insulin, INSUGEN® and India’s first indigenously produced monoclonal antibody BIOMAb-EGFR(TM).www.biocon.com

Disclaimer Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither our company, our directors, nor any of our affiliates, have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.

Earnings Call The company will conduct an hour long call at 3 pm IST on October 20, 2011 where the senior

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management will discuss the company’s performance and answer questions from participants. To participate in this conference call, please dial the numbers provided below five to ten minutes ahead of the scheduled start time. The dial-in numbers for the call are 1 800 200 7888/1 800 102 1300 (India Toll Free numbers are accessible through all mobiles and landline services). Other toll numbers are listed in the conference call invite which is posted on the company website www.biocon.com. The operator will provide instructions on asking questions before the start of the call. A replay of this call will also be available from October 20, 2011 – October 26, 2011 on the same dial-in numbers provided above. The transcript of the conference call will be posted on the company website. Contact Information

Investor Relations Jill Deviprasad +91 80 2808 2054; Jill.deviprasad@biocon.com

Media Relations Varija Belliappa +91 80 2808 2808; Varija.belliappa@biocon.com

Encl: Fact Sheet - Consolidated Income Statement and Balance Sheet (Indian GAAP)

BIOCON GROUP

F A C T S H E E T

September 2011

H1 FY 2012 vs. H1 FY 2011

Q2 FY 2012 vs. Q2 FY 2011

BIOCON LIMITED (CONSOLIDATED) UNAUDITED

BALANCE SHEET (Rs. Crores)

September-11 March -11*

Share Capital 100 100

Reserves & Surplus 2,107 1,933

Total Shareholder’s Funds 2,207 2,033

Deferred Tax Liability 41 50

Minority Interest - 38

Secured Loans 214 204

Unsecured Loans 119 130

333 334

TOTAL 2,581 2,454

Fixed Assets (Net) 1,493 1,356

Intangible Assets 238 234

Investments - Liquid Funds 467 400

Investments - Others 64 61

Inventories 343 414

Sundry debtors 506 512

Cash and bank balances 319 441

Loans and advances 174 136

Total Current Assets 1,342 1,503

Less: Current liabilities 1,023 1,100

Net Current assets 318 403

TOTAL 2,581 2,454 * including Axicorp

SOURCES OF FUNDS

APPLICATION OF FUNDS

BIOCON LIMITED (CONSOLIDATED) UNAUDITED

PROFIT & LOSS STATEMENT (Rs. Crores)

Q2 Q2

Particulars FY 12 FY 11 Variance

INCOME

Biopharmaceuticals 351 294 19%

Biopharmaceuticals - Branded formulations 64 49 35%

Total Biopharmaceuticals 415 343 21%

Contract research 93 78 19%

Total Sales 508 421 21%

Other income 16 7 116%

Total Revenue 524 428 23%

EXPENDITURE

Material & Power Costs 237 189 25%

Staff costs 72 52 38%

Research & Development 31 20 55%

Other Expenses 35 30 19%

Manufacturing, staff & other expenses 375 291 29%

PBDIT /EBITDA 149 137 9%

Interest and finance charges 2 6 -68%

Depreciation & Amortisation 42 38 13%

PBT 105 93 12%

Taxes 19 11 69%

NET PROFIT (PAT) WITHOUT AXICORP 86 82 5%

Profit from discontinued (AxiCorp) Operations, net - 7

NET PROFIT FOR THE PERIOD 86 89 -4%

EPS Rs. 4.3 4.5

Note: The figures are rounded off to nearest crores, percentages are based on absolute numbers

Biopharmaceuticals Income includes Licensing development fees of Rs 37 crores in Q2 FY 2012 vs. Licensing Income of

Rs.23 crores in Q2 FY 2011. 

BIOCON LIMITED (CONSOLIDATED) UNAUDITED

PROFIT & LOSS STATEMENT (Rs. Crores)

H1 H1

Particulars FY 12 FY 11 Variance

INCOME

Biopharmaceuticals 648 583 11%

Biopharmaceuticals - Branded formulations 122 88 37%

Total Biopharmaceuticals 770 671 15%

Contract research 180 150 20%

Total Sales 950 821 16%

Other income 28 16 81%

Total Revenue 978 837 17%

EXPENDITURE

Material & Power Costs 449 384 17%

Staff costs 137 103 33%

Research & Development 51 41 24%

Other Expenses 59 54 11%

Manufacturing, staff & other expenses 696 582 20%

PBDIT /EBITDA 282 255 11%

Interest and finance charges 8 13 -39%

Depreciation & Amortisation 88 74 19%

PBT 186 168 11%

Taxes 30 21 45%

NET PROFIT (PAT) WITHOUT AXICORP 156 147 6%

Profit from discontinued (AxiCorp) Operations, net - 19

NET PROFIT FOR THE PERIOD 156 166 -6%

EPS Rs. 7.8 8.3

Note: The figures are rounded off to nearest crores, percentages are based on absolute numbers

Biopharmaceuticals Income includes Licensing development fees of Rs 51 crores in H1 FY 2012 vs. Licensing Income of

Rs.44 crores in H1 FY 2011. 

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Press Release: 3 Biocon announces project commencement for first high-end biopharmaceutical manufacturing and R&D facility in Bio-XCell, Malaysia Kuala Lumpur, September 10, 2011: Biocon, Asia’s premier biotechnology company, today held a project commencement ceremony for its biopharmaceutical manufacturing and research and development facility in Bio-XCell, a custom-built biotechnology park and ecosystem in Iskandar Malaysia, Johor. The Chief Minister of Johor, Y.A.B. Dato' Haji Abdul Ghani bin Othman unveiled the plaque commemorating the project’s initiation. In the first phase, Biocon proposes to invest around RM500 million (approximately $161 million) in this facility, which is targeted to be operational by 2014. The investment is the largest for the Malaysian healthcare biotechnology sector thus far. “The world-class infrastructure, fiscal and financial incentives, and the initiatives of the State Government of Johor to promote bio-manufacturing, make Johor a compelling destination for establishing our global scale manufacturing facility for Biopharmaceuticals. This facility will cater to the global requirements for Biocon's range of Biosimilar insulin and insulin analogs for diabetes treatment, being commercialized by Pfizer Inc.,” said Biocon Chairman and MD Kiran Mazumdar-Shaw. The project will also focus on research and development and production of other biopharmaceutical products at a later phase. The plant will be built in compliance with US FDA cGMP standards. Biocon signed a Memorandum of Understanding with the Malaysian Biotechnology Corporation SdnBhd (BiotechCorp) to establish the facility in Bio-XCell Malaysia on January 22, 2010. The decision to invest in this initiative was driven by Malaysia’s strategic location, the country’s growing role as a rapidly developing global biotech hub, and the enabling Bio-XCell Ecosystem which offers comprehensive support through high end infrastructure, human resource and related services. “Bio-XCell completes the infrastructure that we have built for the biotechnology industry. The soft infrastructure through the BioNexus programme is an attractive proposition for both local and foreign companies. Bio-XCell, with its focus on manufacturing and R&D, provides the hard infrastructure – conducive space and services specifically for biopharma, healthcare and industrial biotechnology players.” “Biocon’s entry into Bio-XCell will further stimulate growth for the sector, providing commercial opportunities for Malaysian biotechnology’s small and medium enterprises and promote a more vigorous domestic direct investment,” commented Dato’ Dr Mohd Nazlee Kamal, Chairman of Bio-XCell and CEO of BiotechCorp. About Biocon Limited

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Established in 1978, Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India’s largest biotechnology company by revenue. The Group, promoted by Ms. Kiran Mazumdar-Shaw, is a fully-integrated, innovation-driven healthcare enterprise with a strategic focus on biopharmaceuticals and research services. Biocon's value chain traverses the entire length of discovery, development and commercialization of novel therapeutics. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers in approximately 75 countries across the globe. Many of these products have USFDA and EMEA acceptance. Biocon's robust product offering includes the world's first recombinant human insulin, INSUGEN(R) and India's first indigenously produced monoclonal antibody BIOMAb-EGFR(TM). For more information, visit www.biocon.com Media Contact: Varija Belliappa Biocon Limited Tel: +91 80 2808 2223 Fax: +91 80 2852 3423 Email: varija.belliappa@biocon.com About Bio-XCell Bio-XCell is a biotechnology ecosystem for industrial and healthcare biotechnology, with a focus on manufacturing and R&D. Developed by Malaysian Bio-XCell Sdn Bhd, a joint venture company between BiotechCorp and UEM Land, the park is slated to be the new regional biotech hub of Asia. Capitalizing on value propositions of both its shareholders, Bio-XCell provides comprehensive infrastructure, services, incentives and benefits to drive growth for the biotechnology sector. Strategically located in Nusajaya, Iskandar Malaysia, the resource-rich state of Johor, Bio-XCell provides global connectivity through a network of five seaports and two international airports, all within 59 km. For information or leasing inquiries, log on to www.bio-xcell.com For media inquiries, kindly contact: Bio-XCell : Anita Daud Charles Head, Corporate Communications Tel: +603 2116 8508 Email: anita.daud@bio-xcell.com