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Biocon Ltd rose for a third straight session today. The stock is quoting at Rs 385.15, up 1.22% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0% on the day, quoting at 25598. The Sensex is at 83600.31, up 0.17%. Biocon Ltd has added around 10.74% in last one month.
Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has added around 2.02% in last one month and is currently quoting at 22334.45, down 0.08% on the day. The volume in the stock stood at 19 lakh shares today, compared to the daily average of 24.84 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 387.5, up 1.57% on the day. Biocon Ltd is up 17.42% in last one year as compared to a 5.78% gain in NIFTY and a 0.93% gain in the Nifty Pharma index.
The PE of the stock is 0 based on TTM earnings ending June 25.
Yesintek is ustekinumab injection and Yesintek I.V. is ustekinumab for injection, solution for intravenous infusion. These drugs are biosimilars of Stelara (ustekinumab injection) and Stelara I.V. (ustekinumab for injection, solution for intravenous infusion).
The Health Canada approval was based on a comprehensive data package, confirming that YESINTEK is highly similar to Stelara with no clinically meaningful differences in efficacy, safety and immunogenicity.
The approval was granted on October 17, paving the way for Canadian commercial availability in mid-October.
YESINTEK and YESINTEK I.V. are indicated for the treatment of moderate to severe plaque psoriasis in adult patients and in pediatric patients (6-17 years of age), active psoriatic arthritis in adults, moderately to severely active Crohn’s disease and ulcerative colitis in adults—a range of debilitating autoimmune conditions that affect thousands of Canadians.
Shreehas Tambe, CEO & managing director, Biocon Biologics, said: 'Health Canada’s approval of Yesintek marks a significant milestone in our mission to expand global access to high-quality biosimilars.
Building on our successful U.S. launch, this approval strengthens our presence in North America and enhances our immunology portfolio with a more affordable treatment option for Canadian patients living with chronic autoimmune conditions.'
Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.
In its latest financial results, Biocon reported a 95.2% decline in consolidated net profit to Rs 31.40 crore despite a 15.8% jump in net sales to Rs 3,910.10 crore in Q1 FY26 compared to Q1 FY25.
The scrip rose 0.41% to currently trade at Rs 365.70 on the BSE.
Biocon Biologics, a subsidiary of Biocon, announced expansion of its strategic collaboration with Civica, Inc. (Civica) to include a new Insulin Glargine medicine that will benefit patients in the United States by increasing supply of high-quality affordable insulins.
The multi-year transformational agreement between Biocon Biologics and Civica creates an exclusive distributorship arrangement where Biocon Biologics will manufacture and supply Insulin Glargine medicine to Civica, and Civica will commercialize under Biocon Biologics' existing marketing approval (a private label agreement). Civica will distribute, promote, and sell the medicine in the United States under a separate Civica label and trade dress, and in California, the product will carry the CalRx brand. Biocon Biologics will continue to directly commercialize Biocon Biologics' own Insulin Glargine-yfgn medicine, which was approved by the U.S. Food and Drug Administration (FDA) in July 2021 as the first interchangeable biosimilar.
No technology transfer is involved in the agreement and Biocon Biologics will continue to own the intellectual property and marketing authorization associated with Insulin Glargine. Additional terms of the agreement are not disclosed.
The site recently underwent a good manufacturing practice (GMP) inspection by the US Food and Drug Administration (USFDA), which concluded with a single observation. The company said it will address the observation within the stipulated timeline and confirmed that it is not expected to impact ongoing business operations.
Biocon said the Cranbury facility represents a strategic advancement of its operations in the United States, enabling faster access to the company’s vertically integrated portfolio of products, benefiting patients in the region. With some products already commissioned from this site and additional launches in the pipeline, the facility is expected to play a key role in furthering Biocon’s mission to expand access to high-quality, affordable therapies worldwide.
The scrip rose 0.04% to currently trade at Rs 352.90 on the BSE.