India’s Biocon expects to launch psoriasis drug by end FY13

MUMBAI (Reuters) – Biocon, India's top listed biotechnology company, expects to launch Itolizumab, a drug to treat psoriasis, by end of the current fiscal year, its Chairman Kiran Mazumdar-Shaw said. "We are going to apply for market authorization very soon. Hopefully, if everything goes well, by end of this fiscal, we should be in the market," she told Reuters by telephone. Biocon's consolidated net profit rose 12.5 percent 788 million rupees during the fiscal first quarter ended June, it said. (Reporting by Kaustubh Kulkarni)